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

Category: L

LINKAGES

Tasks, functions, departments, and organizations integrated to achieve shared objective are related to each other, having interactions that promote the flow of information and ideas.

LISTING

1. Posting a accepted security on a stock exchange for trading. 2. Certification of an appliance, equipment, or supplies as complying with specific safety and/or other requirements by an independent standards or

LIVING TRUST

Revocable trust as an estate planning device, built on property transfer or gift to one or more beneficiaries from its living trustor. It is not a way to stave off creditors from

LOCAL AREA NETWORK (LAN)

Two commercially and industry known major LAN standards are Ethernet and Token Ring. data communication system user-owned. user-operated. Either a short-distance cable and/or wireless-based device connection. Interconnects one or more servers with

LOG BOOK

Record of activities, events, and/or occurrences, systematically, daily or hourly.

LONG SQUEEZE

A downward stock price trend accelerated by attempted long position liquidations by investors, hoping to minimize their losses. Also refer to short squeeze.

LONG-RUN AGGREGATE SUPPLY

in a specific period of time, produced and tracked across the national economy, this is the total amount of goods and services .

LOSS CONSTANT

Compared to other risks in the same classification, this amount intends to offset greater-than-average losses most smaller risks have.

LOSS LIMITATION

Retrospective rating formulas component. Calculating the final premium with a designed catastrophic losses limit versus full hit reporting.

LOSS RESERVE

Insurer’s estimated time-bound total unpaid claim liability as held money. Includes unreported claim events, committed unpaid rulings, and payouts committed yet not due.

LOW RISK FOODS

Foods less of a source of food poisoning, containing (1) high acid content of pH 4.5 or lower, or (2) low water content. Low risk foods usually have a ‘best before’ date

LUMP SUM BID

Single value bid. Expected to cover all cost for the project involved. Includes equipment, labor, material, overheads, and services, as well as the contractor’s fee or bonus for completing the items of

L

Yearly obligations to a financial institution.

LAMATERIAL

Fusing or joining sheets of different materials into one sheet. Properties are better that the collective properties of the constituent materials.

LARGE CAP STOCK

When a company’s stock gains more than $5 billion. Refer to micro and midcap stock.

LATE MAJORITY

Diffusion of innovation theory holds that the majority group of roughly 34 percent of population is just ahead of the ‘laggards’ in trying or adopting a new product. This group’s members are

LAW OF CONTRACT

Rules on agreements, oral and written, agency relationships, commercial paper, employment, and business organizations as a governing body of law.

LAY DAYS

Days a port authority allows a ship to load or unload cargo with no demurrage or late charges. Expressed as (1) Running Days: consecutive days plus weekends and holidays. (2) Working days:

LEAD USERS

Early consumers of latest methods, technologies, goods and products. This makes significant opportunities to springboard innovative products. As leading proponents, their needs direct the general market’s needs and choices.

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