Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance Dictionary

LEND-LEASE

For a common cause or in mutual benefit, friendly parties exchange or transfer of goods and services to each other.

LETTER OF APPLICATION

Specified number of securities requested out of a new issue as an allotment is detailed in this document.

LETTER OF RENUNCIATION

An allottee-stockholder-shareholder issues this written notification, renouncing or transferring new-issue allotted securities or rights to an issue to other stockholder(s).

LEVEL OF SERVICE

Effort in providing service appropriate to satisfy customer needs and desires of clientele the firm wishes to attract and is not a profit killer. Measured amount and kind of service

LEVERAGED NOTE

A note that gives investors a possibility of returns through a coupon. Refer to inverse floating rate note.

LIFE CARE CONTRACT

In return for transferring a property to the caregiver, one or more persons are guaranteed lifetime care and maintenance, under this arrangement .

LIFE INSURANCE POLICY

Contract between the entity buying the policy, as the insured or policy holder, and a life insurance company, as the insurer.

LIMIT ORDER INFORMATION SYSTEM

an electronic system that stores and displays information on limit orders and feeds the data to the specialist display book. Orders that are entered as good, until cancelled, remain in the system

LINE OF BUSINESS

Insurer’s categorization of the products and policies it sells, such as Homeowners, Health or Life.

LINER

1. A scheduled service between fixed ports on a trade route by such a cargo and/or passenger transport shipping line operations. 2. Material placed between two other materials to serve as a

LIST SERVER

Email messaging services’ dedicated computer system.

LIVERY USE

Carrying passengers using a rented vehicle. Typically an automobile insurance policies’ exclusion.

LOAN CAPITAL

Company’s capital in-use that (1) is not equity capital, (2) earns fixed rate interest, not dividends, 3) irrespective of the company’s financial state must be repaid within a specified period, .

LOGO

Consumer identifier, recognizable and distinctive. Solely for identifying an organization, not a product, it is a graphic design, stylized name, unique symbol, or other device. Also known as logotype. Appearing on all

LONG HEDGE

An advantage or protection is secured by this type of transaction against a possible price increase of a traded item, like a commodity, financial instrument, security, and the like. These will be

LONG TERM PLANNING

Activities of formulating a long-term plan. Future needs estimating typically is an extrapolation of present or known needs. The extrapolation for achieving interim goals starts with current status, projected status roadmap, includes

LOSS ASSESSMENT CHARGE

Property damage payout due to a homeowners association or property owners group as the insured’s portion of the total amount owed due. This charge-type coverage is offered by certain homeowners insurance policies.

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