What is Actual?

Legal Definition
A physical commodity or financial instrument. Physical items are delivered to the buyer before expiration dates. AKA cash commodity or physicals.
Legal Definition
Real; actual.

2. Actual notice. One which has been expressly given by which knowledge of a fact hos been brought home to a party directly ; it is opposed to constructive notice.

3. Actual admissions. Those which are expressly made; they are plenary or partial. 4 Bouv. Inst. n. 4405.

4. An actual escape takes place when a prisoner in fact gets out of prison, and unlawfull regains his liberty. Vide Escape.
-- Bouviers Law Dictionary
Legal Definition
Real; substantial; existing presently in act, having a valld objective existence as opposed to that which is merely theoretical or possible. Something real, in opposition to constructive or spechlative; something existing in act Astor v. Merritt, 111 U. S. 202, 4 Sup. Ct 413, 28 In Ed. 401; Kelly v. Ben. Ass'n, 46 App. Div. 79, 61 N. Y. Supp. 394; State v. Welis, 31 Conn. 213. As to actual "Bias," "Damages," "Delivery," "Eviction," "Fradd," "Malice," "Notice," "Ocoupation," "Ouster," "Possession," "Residence," "Seisin," "Total Loss," see those titles.
See also
-- Black's Law Dictionary