warrant

noun war·rant \ ˈwȯr-ənt , ˈwär- \

|Updated on: 19 Jul 2018

Definition of warrant

1 a (1) : sanction, authorization; also : evidence for or token of authorization

(2) : guarantee, security

b (1) : ground, justification

(2) : confirmation, proof

2 a : a commission or document giving authority to do something; especially : a writing that authorizes a person to pay or deliver to another and the other to receive money or other consideration

b : a precept or writ issued by a competent magistrate authorizing an officer to make an arrest, a seizure, or a search or to do other acts incident to the administration of justice

c : an official certificate of appointment issued to an officer of lower rank than a commissioned officer

d (1) : a short-term obligation of a governmental body (such as a municipality) issued in anticipation of revenue

(2) : an instrument issued by a corporation giving to the holder the right to purchase the stock of the corporation at a stated price either prior to a stipulated date or at any future time

—

warrantless

play \ˈwȯr-ənt-ləs, ˈwär-\ adjective

See warrant defined for English-language learners

See warrant defined for kids

Examples of warrant in a Sentence

The police had a warrant for his arrest.
There was no warrant for such behavior.

Recent Examples of warrant from the Web

An arrest warrant was issued for Cardenas for one count of first-degree murder and two counts of aggravated assault with a deadly weapon, Smith said.

— nathan j. fish, azcentral, "Police: Suspect in Glendale shootings arrested after fleeing to Texas," 13 July 2018
The same witness subsequently identified Bester as the shooter, the warrant said.

— david owens, courant.com, "Warrant: Bloomfield Man Kills Hartford Man Rather Than Pay For Damage To Car," 12 July 2018
The man in the white tank, later identified as Williams, paid cash for a black neoprene mask, and the men left the store, an arrest warrant said.

— wayne k. roustan, Sun-Sentinel.com, "Gunman in XXXTentacion murder arrested, Sheriff’s Office says," 11 July 2018
The warrant said Cook was reckless for letting Prindle do so.

— ben brasch, ajc, "Warrant, friend shed light on DUI case of Cobb teen who fell from SUV," 9 July 2018
Bell was arrested in March for a probation violation in Arizona and was eventually extradited to Georgia, where the warrant for his arrest was issued.

— a.j. perez, USA TODAY, "Josh Pastner's lawyers use accusers' jailhouse conversation to seek case dismissal," 6 July 2018
An arrest warrant for third-degree felony criminal mischief has been issued in Jacksonville, Fla., against ex-Eagles wide receiver Jabar Gaffney, according to his attorney.

— rob tornoe, Philly.com, "Weird feud between 2 former Eagles players leads to criminal case," 6 July 2018
He was arrested on an out-of-county warrant, according to CNN, but the sheriff’s office declined to provide more details about what the charges were for.

— sarah spellings, The Cut, "Chris Brown Arrested for Battery," 6 July 2018
An arrest warrant was issued for a Travis County resident for hunting from a vehicle.

— Houston Chronicle, "Game warden field notes," 1 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'warrant.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Origin and Etymology of warrant

Middle English waraunt protector, warrant, from Anglo-French warant, garant, of Germanic origin; akin to Old High German werēnto guarantor, werēn to warrant; akin to Old High German wāra trust, care — more at ²very

NEW! Time Traveler

First Known Use: 14th century

in the meaning defined at sense 1a(1)

See Words from the same year

warrant Synonyms

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

warrant

verb

Definition of warrant

warranted; warranting; warrants

transitive verb

1 a : to declare or maintain with certainty : be sure that

I'll warrant he'll be here by noon

b : to assure (a person) of the truth of what is said

2 a : to guarantee to a person good title to and undisturbed possession of (something, such as an estate)

b : to provide a guarantee of the security of (something, such as title to property sold) usually by an express covenant in the deed of conveyance

c : to guarantee to be as represented

d : to guarantee (something, such as goods sold) especially in respect of the quality or quantity specified

3 : to guarantee security or immunity to : secure

I'll warrant him from drowning
—William Shakespeare

4 : to give warrant or sanction to : authorize

the law warrants this procedure

5 a : to give proof of the authenticity or truth of

b : to give assurance of the nature of or for the undertaking of : guarantee

6 : to serve as or give adequate ground or reason for

promising enough to warrant further consideration

See warrant defined for English-language learners

Examples of warrant in a Sentence

The writing was poor, but it hardly warrants that kind of insulting criticism.
The punishment he received was not warranted.

Recent Examples of warrant from the Web

The board will still push back on apps or turn them away when warranted, but Saffel says the process has matured such that most of what the board sees these days is ready or very near ready to go live.

— lily hay newman, WIRED, "The DoD’s App Store Does This One Crucial Thing to Stay Secure," 3 July 2018
That law requires creditors to review credit card accounts every six months to determine if factors have changed that would warrant an interest rate reduction, like an improvement in a customer’s credit score.

— samantha bomkamp, chicagotribune.com, "Citibank settles with regulator: 1.75M credit card holders to split $335 million," 2 July 2018
Lovullo said the team had Marrero evaluated on Saturday and determined that the amount of inflammation warranted a trip to the DL.

— richard morin, azcentral, "Diamondbacks place Deven Marrero on DL, recall Jimmie Sherfy," 30 June 2018
The pre-sentencing report is an investigation into whether a person’s background may warrant a harsher or more lenient sentence, takes 70 to 90 days to prepare and is a necessary step in the federal system before sentencing.

— spencer s. hsu, Washington Post, "Special counsel asks judge to launch sentencing process for former national security adviser Michael Flynn," 29 June 2018
Surgery is also sometimes (though rarely) warranted to remove a bone deformity or to loosen inflexible muscles.

— markham heid, Time, "You Asked: What’s the Best Way to Treat Plantar Fasciitis?," 27 June 2018
Miller's attorney, Paul Barker, is now arguing this development warrants a hearing and is just cause for Miller's release.

— colin stutz, Billboard, "C-Murder Witness Recants Testimony, Says He Was Pressured Into Identifying Rapper as Shooter," 26 June 2018
Many fans felt that the success of her single warranted more screen time.

— refinery29.com, "Twitter Is Pissed About How The BET Awards Treated Ella Mai," 25 June 2018
Justice Breyer, writing only for himself on this point, said the issue was important and warranted the court’s attention.

— adam liptak, New York Times, "S.E.C. Judges Were Appointed Unlawfully, Justices Rule," 21 June 2018

Origin and Etymology of warrant

Middle English, waranten to act as protector, guarantee, from Anglo-French warentir, garantir, from warant

NEW! Time Traveler

First Known Use: 14th century

in the meaning defined at sense 1a

See Words from the same year

warrant Synonyms

Synonyms

accredit, authorize, certify, commission, empower, enable, invest, license (also licence), qualify, vest;

Antonyms

disqualify;

Near Antonyms

ban, bar, block, constrain, deny, disallow, disbar, discourage, disenfranchise, disfranchise, exclude, hinder, hold back, impede, inhibit, obstruct, prevent, shut out, stop;

enjoin, forbid, interdict, outlaw, prohibit, proscribe, veto;

Related Words

approve, clear, credential, endorse (also indorse), OK (or okay), sanction;

affirm, confirm, validate;

inaugurate, induct, initiate, install, instate, swear in;

allow, let, permit;

enfranchise, entitle, privilege;

Financial Definition of WARRANT

warrant

noun

What It Is

Warrants are securities that give the holder the right, but not the obligation, to buy a certain number of securities (usually the issuer's common stock) at a certain price before a certain time. Warrants are not the same as call options or stock purchase rights.

How It Works

Occasionally, companies offer warrants for direct sale or give them to employees as incentive, but the vast majority of warrants are "attached" to newly issued bonds or preferred stock.

For example, if Company XYZ issues bonds with warrants attached, each bondholder might get a $1,000 face-value bond and the right to purchase 100 shares of Company XYZ stock at $20 per share over the next five years. Warrants usually permit the holder to purchase common stock of the issuer, but sometimes they allow the purchaser to buy the stock or bonds of another entity (such as a subsidiary or even a third party).

The price at which a warrant holder can purchase the underlying securities is called the exercise price or strike price. The exercise price is usually higher than the market price of the stock at the time of the warrant's issuance. In our example, the exercise price is $20, which is 15% higher than what Company XYZ stock was trading at when the bonds were issued. The warrant's exercise price often rises according to a schedule as the bond matures. This schedule is set forth in the bond indenture.

One important characteristic of warrants is that they are often detachable. That is, if an investor holds a bond with attached warrants, he or she can sell the warrants and keep the bond. Warrants are traded on the major exchanges. In some cases, where warrants have been issued with preferred stock, stockholders may not receive a dividend as long as they hold the warrant as well. Thus, it is sometimes advantageous to detach and sell a warrant as soon as possible so the investor can earn dividends.

If the price of the stock is above the exercise price of the warrant, the warrant must have what is known as a minimum value. For example, consider the warrants to purchase 100 shares of Company XYZ for $20 per share anytime in the next five years. If Company XYZ shares rose to $40 during that time, the warrant holder could purchase the shares for $20 each, and immediately sell them for $40 on the open market, pocketing a profit of ($40 - $20) x 100 shares = $2,000. Thus, the minimum value of each warrant is $20.

It is important to note, however, that if the warrants still had a long time before they expired, investors might speculate that the price of Company XYZ stock could go even higher than $100 per share. This speculation, accompanied by the extra time for the stock to rise further, is why a warrant with a minimum value of $20 could easily trade above $20. But as the warrant gets closer to expiring (and the chances of the stock price rising in time to further increase profits get smaller), that premium would shrink until it equaled the minimum value of the warrant (which could be $0 if the stock price falls to below $20).

Why It Matters

Warrants are not the same as call options. Call options are not detachable and they often have a shorter shelf life than warrants do (usually less than a year, versus five or more for warrants). They are also not the same as convertible securities, where the holder uses the principal of one security to purchase another security (usually a bond issuer's stock). For example, if the Company XYZ bond were a convertible bond, the holder could trade the bond's $1,000 par value for a number of Company XYZ shares. But if the Company XYZ bond has a warrant attached, the investor must come up with additional money to purchase the shares at the exercise price (in this case 100 shares x $20 per share, or $2,000).

Warrants are also not the same as stock purchase rights. The exercise price of a stock purchase right is usually below the underlying security's market price at the time of issuance, whereas warrant exercise prices are typically 15% above market price at the time of issuance. Also, companies often issue stock purchase rights only to existing shareholders, and they also have very short lives--generally two to four weeks.

Securities with attached warrants allow their holder to participate in the price appreciation of the underlying security (Company XYZ common stock, in our example). This is because the higher the minimum value of the attached warrant, the higher the value of the bond or preferred shares. For example, the price of a Company XYZ bond with a warrant attached tends to rise as the price of Company XYZ common stock approaches the exercise price (similar to a call option).

This opportunity to participate in the upside of another security (albeit usually with the same company) gives investors a little diversification and thus is a way to mitigate risk. As a result, companies often issue bonds and preferred stock with warrants attached as a way to enhance the demand and marketability of the offering. This in turn lowers the cost of raising capital for the issuer.

Source: Investing Answers

WARRANT Defined for English Language Learners

warrant

noun

Definition of warrant for English Language Learners

law : a document issued by a court that gives the police the power to do something
: a reason for thinking, deciding, or doing something

warrant

verb

Definition of warrant for English Language Learners

: to require or deserve (something)
: to make a legal promise that a statement is true
: to give a guarantee or warranty for (a product)

WARRANT Defined for Kids

warrant

noun war·rant \ ˈwȯr-ənt \

Definition of warrant for Students

1 : a reason or cause for an opinion or action

There is no warrant for such behavior.

2 : a document giving legal power

“Hold that man,” … “I have a warrant for his arrest.”
—Richard and Florence Atwater, Mr. Popper's Penguins

warrant

verb

Definition of warrant for Students

warranted; warranting

1 : to be sure of or that

I'll warrant they know the answer.

2 : ²guarantee 1

The toaster is warranted for 90 days.

3 : to call for : justify

The report warrants careful study.

Law Dictionary

warrant

noun war·rant \ ˈwȯr-ənt, ˈwär- \

legal Definition of warrant

1 : warranty 2

an implied warrant of fitness

2 : a commission or document giving authority to do something: as

a : an order from one person (as an official) to another to pay public funds to a designated person

b : a writ issued especially by a judicial official (as a magistrate) authorizing an officer (as a sheriff) to perform a specified act required for the administration of justice

a warrant of arrest

by warrant of commitment

— administrative warrant

: a warrant (as for an administrative search) issued by a judge upon application of an administrative agency

— anticipatory search warrant

: a search warrant that is issued on the basis of an affidavit showing probable cause that there will be certain evidence at a specific location at a future time — called also anticipatory warrant

— arrest warrant

: a warrant issued to a law enforcement officer ordering the officer to arrest and bring the person named in the warrant before the court or a magistrate

Note: A criminal arrest warrant must be issued based upon probable cause. Not all arrests require an arrest warrant.

— bench warrant

: a warrant issued by a judge for the arrest of a person who is in contempt of court or indicted

— death warrant

: a warrant issued to a warden or other prison official to carry out a sentence of death

— dispossessory warrant \ˌdis-pə-ˈze-sə-rē-\

: a warrant issued to evict someone (as a lessee) from real property —used especially in Georgia

— distress warrant

: a warrant ordering the distress of property and specifying which items of property are to be distrained

— extradition warrant

: a warrant for the extradition of a fugitive; specifically : rendition warrant in this entry

— fugitive warrant

: an arrest warrant issued in one jurisdiction for someone who is a fugitive from another jurisdiction — called also fugitive from justice warrant

— general warrant

: a warrant that is unconstitutional because it fails to state with sufficient particularity the place or person to be searched or things to be seized

— material witness warrant

: a warrant issued for the arrest of a material witness to prevent the witness from fleeing without giving testimony

— no-knock search warrant

: a search warrant allowing law enforcement officers to enter premises without prior announcement in order to prevent destruction of evidence (as illegal drugs) or harm to the officers — compare exigent circumstances

— rendition warrant

: a warrant issued by an official (as a governor) in one jurisdiction (as a state) for the extradition of a fugitive in that jurisdiction to another that is requesting the extradition

— search warrant

: a warrant authorizing law enforcement officers to conduct a search of a place (as a house or vehicle) or person and usually also to seize evidence — called also search and seizure warrant

Note: The Fourth Amendment to the U.S. Constitution requires that a search warrant for a criminal investigation be issued only upon a showing of probable cause, as established usually by a sworn affidavit. The search warrant has to specify the premises and persons to be searched as well as what is being searched for. Not all searches require a search warrant. Warrantless searches are permitted when they are of a kind that the courts have found to be reasonable (as by being limited) or when they are prompted by a level of suspicion or belief (as reasonable suspicion or probable cause) that is consistent with the level of intrusion of the search. Some searches have been found to be so intrusive that a court hearing is required before the search is permitted.

3 a : a short-term obligation of a governmental body (as a municipality) issued in anticipation of revenue

b : an instrument issued by a corporation giving to the holder the right to purchase the capital stock of the corporation at a stated price either prior to a stipulated date or at any future time

stock warrant

— compare subscription

—

warrantless

adjective

Origin and Etymology of warrant

Anglo-French warant garant protector, guarantor, authority, authorization, of Germanic origin

warrant

transitive verb

legal Definition of warrant

1 : to guarantee especially by giving assurances that make one liable or responsible: as

a : to give a warranty (as of title) to

b : to protect or assure by warranty

the warranted goods

an assignor is not liable for defaults of the obligor and does not warrant his solvency
—Restatement (Second) of Contracts

c : to state as a warranty : guarantee to be as represented

the seller warrants that the car is without defects

expressly warranted “prior endorsements guaranteed”
—J. J. White and R. S. Summers

2 a : to authorize by a warrant

a warranted search

b : to serve as or give adequate reason or authorization for

warranted the awarding of attorney's fees

was not warranted by the facts

3 : to give proof of the authenticity or truth of

a formally warranted statement

Origin and Etymology of warrant

Anglo-French warentir garantir, from garant protector, guarantor

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See words that rhyme with warrant Thesaurus: All synonyms and antonyms for warrant Spanish Central: Translation of warrant Nglish: Translation of warrant for Spanish speakers Britannica English: Translation of warrant for Arabic speakers Britannica.com: Encyclopedia article about warrant

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warrant

Definition of warrant

warrantless

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warrant

Definition of warrant

Examples of warrant in a Sentence

Recent Examples of warrant from the Web

Origin and Etymology of warrant

warrant Synonyms

Synonyms

Antonyms

Near Antonyms

Related Words

Financial Definition of WARRANT

What It Is

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WARRANT Defined for English Language Learners

warrant

Definition of warrant for English Language Learners

warrant

Definition of warrant for English Language Learners

WARRANT Defined for Kids

warrant

Definition of warrant for Students

warrant

Definition of warrant for Students

Law Dictionary

warrant

legal Definition of warrant

warrantless

Origin and Etymology of warrant

warrant

legal Definition of warrant

Origin and Etymology of warrant

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