Category: L

Cost the renter pays the leasing owner periodically for whatever was leased.

Commercial property coverage for a broken lease due to property damage stemming from a peril specified in the contract. Typically, across the lease term the lessee pays the difference between the rent

1. In Business, this is another name for a registered address. 2. In all other areas, this is an address that has a registered street or civic address including the property’s lot

Something a law recognizes, as in an advantage, profit, right, or share. A legal title is an example.

Legal entity with legal right to possess a property, yet, the legal owner, who is a different entity, retains title. A mortgagor-lessee-renter occupies a mortgaged property, having promised as loan collateral, and

The Supreme Court ‘sits’ for four times during this annual period.

US legal direction holding lenders, especially banks and mortgage companies, liable for a borrower’s inability to repay due to the lender’s actions. Liability is for (1) bad faith loans, (2) refusing to

Standard measure of surrounding medium toxicity. Half of the sample population (50%) of a specific test-animal in a specified period die from exposure via inhalation or respiration. As a toxicity comparison, LC50

Enables an accepting bank to sell the shipment if the buyer does not accept or pay the bill of exchange. A bank or lender is authorized to seize and sell the documented

Defined by American National Standards Institute (ANSI) as 8

Buyer-seller arrangement seeking to eliminate huge demand swings due to seasonal factors. In exchange for a discount or guaranteed delivery, the buyer agrees to buy a definite amount of a good or

If negligence or failure of due diligence is a potential hazard to a person’s life or property, the manufacturers are obligated to take reasonable care.

Written contract between the owner/licensor of a patent, copyright, trademark, know-how, service mark, or other intellectual property, and a licensee to use, make, or sell copies of the original. Franchisers promote sales

As an improvement in marketing concept, goods and services live a progression from cradle to grave as a life span like people and living organism. Almost every product goes through the stages

An life insurance policy that is canceled by the insurer.

Characters specially designed to give a better ‘eye appeal’ to the printed text. They are not meant for headlines. Two characters, as ‘fi’ in ‘fight’, or three as ‘ffi’ in ‘affiliate’ are

Lawful boundary to the time period for claiming a civil lawsuit or injury. This limitation does not apply against disabled parties in some jurisdictions. Cannot bring it up in court for hearing

A trust that ends on a date set when the trust was first made.

Daily operations such as purchasing, manufacturing, and selling associated with its organizational decision making areas. Also refer to staff function.

An asset that provides payoff. Refer to nonlinear instrument.