What is Lot ?
Lot is (noun) 1. a lot of, lots of a large number or a large quantity There’s lots of time before the train leaves. What a lot of cars there are in the car park! I’ve been to the cinema quite a lot recently. She’s feeling a lot better now. Lots of people are looking for jobs. a fat lot of not much (informal.) a fat lot of help you are! you are no help at all he’s a bad lot he’s a bad person, a criminal (informal.) 2. US a piece of land, especially one to be used for development 3. an item or group of items sold at an auction sale Lot 23 is a collection of books and pictures. 4. to draw lots to take pieces of paper from a box to decide something. The person who has the marked piece wins. We drew lots to decide who would go first. They drew lots for the bottle of whisky.
source: Easier English, Student Dictionary Upper Intermediate Level