Category: L

Eroding financial worth of land as that which makes it worthwhile deteriorates. The quality of land will erode from excessive or inappropriate exploitation, often losing its topsoil, vegetation, and/or water resources, .

Regulations on commercial activities involving trademarks. Federal regulations that ensure trademarks are unique to their users. It intends to reduce consumer confusion seeking to identify well-known goods or services. Also known as

An approach where the last acquired product is the first one out for sale. Refer to first in first out.

Term coined by Maltese-born UK psychologist, Dr. Edward de Bono, in his 1970 book, ‘Lateral Thinking.’ Technique to generate Ideas and solve problems. New concepts-building looks for novel ways. Contrast logical, ‘vertical’

Biased judgment assuming that a small number of observations or data points can predict outcome from a larger sample population. Also refer to law of large numbers.

When a representative acts as leader of the board. Refer to presiding directory, residing director, and nonexecutive director.

Spacing between lines of text as a vertical amount. .

Lease attachment or annex formally added. Lists and describes the item leased, required lease payments, and other terms applicable to the lease. The lease terms and conditions are fixed per the master

Tenant / renter / lessee-held real property on a fixed-term lease that returns to its freehold owner / lessor.

Lawful capacity for an entity in its own name to enter into binding contracts, to sue and to be sued.

Specifically, a leasehold estate authorized with a set term by a deed .

Acquiring a benefit, interest, or right by enforcing a remedy, action or procedure established by court decision.

Common legal phrase. Lawful action, such as an agreement consciously agreed to by two or more entities, establishing lawful accountability. For example, an apartment lease legally binds the lessor and the lessee.

It may or may not also be a depository institution. A bank, credit union, or finance company that makes loans.

Exposure expected to kill within 30 days half of the population exposed to radiation or radioactive material. Written also as LD50:30.

Not a legal instrument. Information required by an executor to execute a will. Also refer to letter of wishes.

Universal life insurance option paying the policy’s face value or a specified accumulation value percentage upon the insured’s death.

Constant production rate regardless of demand fluctuation. Maximum plant capacity utilization and balanced workforce size are the objectives.

A liability insurance policy’s maximum benefit available payout.

An insurance coverage type rarely issued for a substandard risk. If the insured dies before a certain time, less than the full policy benefit is paid out.