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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 on the vehicle.

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Listed User

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

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Lienholder

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

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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.

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Lapsed Coverage

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

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LEGALLY COMPETENT

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

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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 for the same crime. See former jeopardy; in jeopardy.

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LEASE IN REVERSION

the term that is given to a lease that starts when another lease has expires.

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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.

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LEGAL FRAUD

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

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LAY WITNESS

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

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LACK OF JURISDICTION

a term that means the lack of power to act or the lack of authority in a legal matter.

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LEGALLY LIABLE

a term used to mean that something is responsible under law.

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LEGAL FEE

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

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LAW PARTNER

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

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LEGAL COUNSEL

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

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LEGACY ALTERNATE

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

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LEASEBACK

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

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LEGALLY SUFFICIENT EVIDENCE

the term given to the adequate evidence that is presented in a case that allows the court to make a verdict.

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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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