The Law Dictionary

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

Category: L

Loan/Lease Payoff Coverage

Also called Gap Insurance, Loan/Lease Payoff Coverage covers the difference between how much an insurer will pay on a lost, stolen, or totalled vehicle, and how much the insured person still owes

Listed User

Members of the same household who do not drive an insured vehicle.

Lienholder

A bank, person, or other entity having a financial interest (such as a loan) in a vehicle.

Leased Vehicle

Acquiring a vehicle from a dealer or leasing company under a contract, requiring the lessee to pay periodic payments for a specified period of time.

Lapsed Coverage

When an insurance policy is terminated or cancelled, and a replacement policy has not been obtained.

LEGALLY COMPETENT

the term that means a person is fit and is qualified to serve in the capacity as an administrator or an executor.

LEGAL JEOPARDY

1. the name given to the situation where a person is taken to trial. 2. Used in the phrase double jeopardy or prior jeopardy, where a person is tried more than once

LETTER ROGATORY

the term given to a request from the court trying a case to another court in a different state or country that asks them to take testimony from a witness residing there.

LEGAL FRAUD

the name given to the actions that are meant to mislead and deceive that may not have been the original intent.

LAY WITNESS

the term that applies to a witness who gives testimony as to an opinion but is not an expert.

LEGAL FEE

the name given to the money that is charged by the attorney for his services to a client.

LAW PARTNER

the term given to a person who shares a law practice with an equal or unequal share.

LEGAL COUNSEL

a term used to mean the services given by an attorney or refers to the attorney himself.

LEGACY ALTERNATE

the term given to a legacy that givers one of 2 to more things and doesn’t specify the one.

LEASEBACK

the term that describes the sale of land with a lease to the seller given by the purchaser.

LEGALLY SWORN

a term that means to be bound by an oath and a person who is sworn before giving testimony.

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