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

Category: L

Listed User

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

Lapsed Coverage

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

LEGACY TRUST

the name that is given to a legacy to a trustee to be held in trust and the income earned will go to the beneficiaries.

LISTED STOCK

the term used for stock that is traded on a stock exchange such as NASDAQ.

LIFE INTEREST

the term given to the interest in property that lasts for a person’s life time.

LIMITED AUTHORITY

the term applied to the authority and power that is restricted to certain duties and functions.

LIFE OF A WRIT

the term that applies to the period of time that a writ is effective.

LAW OF DAMAGES

These are the terms that will govern the size of a verdict or award. See, Personal Injury Cases: A Guide to Damages and Settlements

LEGALIZED NUISANCE

The term that is given to a structure that a neighborhood doesn’t want to be built but is declared legal by law. An example would be a prison.

LAY WITNESS

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

LAWYERING

a slang term for practicing as an attorney or as a lawyer.

LAW REVIEW

the name of the magazine that is published by every law school and contains articles of interest to law students.

LEGAL CAUSE

the term that is used for the real cause of an accident or an injury.

LATENT AMBIGUITY

a term given to a legal document, a will or a deed that seems to be clear but contains certain ambiguities.

LAST RESORT

the term that refers to the court that is the last resort where there can be no appeal.

LOSS OF CITIZENSHIP

the term used when a person is deprived of his citizenship due to giving false information when applying.

LITERAL PROOF

the term given to the proof that is offered as written evidence.

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