Category: L

Every 4 years one extra day is added to the month of February. Increases the standard 365day year to 366 days. Necessary to synchronize the calendar and astronomical year. The leap year

Travel taken from one stop to another. Also known as portion or segment.

In general, it is that which makes something legal. 1. As implied warranty that the statutes of a particular jurisdiction are the basis for any act, agreement, or contract in that jurisdiction.

A party is excused from sharing liabilities arising out of the agreement as a stated provision in said agreement.

A delegatee or delegate executes the delegated task detailed in a written statement of conditions, procedures, and terms.

Raised letters or images pick up ink from a roller and transfer it to the paper. It is a relief-printing process used first by Gutenberg in 1455. Oldest method of commercial printing.

Smooth flow of production over a period driven by sales and production departments agreeing on a fixed level of output volume and output duration. Minimal disruptions from sudden demand-level changes needed. Matching

1. If Nonpolitical, this is an entity that favors social solutions to economic, social, and other problems, and favors less law and restriction to personal freedoms. 2. If Political, this is an

A process for managing system software, hardware, and support over the life of a system. In this process, the focus is on the initial development and implementation stages as projects expend at

The way one lives is called one’s lifestyle. It is comprised of how the entity copes with physical, psychological, social, and economic environments on a day-to-day basis. A way of living for

Nonproprietary, open standard used for index formatting in system access directories. Based on X.500 standard, and much simpler and smaller, LDAP supports TCP/IP for internet access, storing and retrieving names, addresses, phone

The legal protection limiting each shareholder to the par value of fully paid-up company shares to cover the financial liability of the company’s debts and obligations in a privately or publicly owned

In Insurance, this is a multi-used term. Loss or damage payout typically has a maximum benefit as a limit. An insurer often has an age limit beyond which no policy will be

A broker-written document describing a prospective risk that is given to underwriters to decide on their willingness to insure what fraction of risk described.

Bank and customer arrangement to cover checking account or credit card limit overruns by allowing the back to withdraw funds from another of the customer’s account like a savings account.

Independent private or public standards or testing organization that assesses goods and materials based on specific criteria and gives its mark, known as listing mark, to be carried on qualifying items as

A family uses this dwelling as a type of housing.

City, town, county, or state level government. The administrative body for this small geographic jurisdiction. Electing officials, enacting taxes, and doing many things a national government can do is within its jurisdiction.

Made while logging activities in a log book, this is the specific calendar date and/or time that the entry was posted.

Used as a reference for floating rate payments, this is the interest rate midway between LIBOR and LIBID rates.