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

Category: L

LADDER OPTION

When a buyer locks in gains. Refer to the hatchet option, cliquet option, fixed and floating strike ladder option, or a shout option.

LANDING ACCOUNT

Warehouse keeper issues this document to a recently landed shipment’s consignee as the shipment is stored in the warehouse. The document gives details of the shipment and the date when demurrage charges

LAST

A given security’s most recently executed-transaction’s price.

LATENT MARKET

A potential market with ready consumers identified for a product or service not yet offered. Finding this potential helps a company move towards new products or services with building demand. The first

LAW OF ONE PRICE

Purchasing power doctrine preaching parity where the real purchasing power of different currencies trends to equalize differing inflation rate in the respective countries, forcing a similar price in each country for commodities

LEAD (PB)

Natural element as a heavy metal that endangers life. Proven to cause mental retardation, increased infections and cancer rates. Lead blunts the body’s defense mechanisms, the immune system, and collects in blood,

LEADERSHIP GRID

Tracking two basic leadership attributes: concern for results and concern for people. A graphical tool for evaluating leader behavior along effective leadership styles..

LEASE TO OWN

An agreement allowing the renter to buy the leased item when the lease period expires. Typically, some or all of the lease payment is applied to the purchase. A lease-to-own arrangement usually

LEGAL LEASE

Specifically, a leasehold estate authorized with a set term by a deed .

LEHMAN BROTHERS

Founded in 1850 by Henry Lehman, Emmanuel Lehman and Mayer Lehman. Worldwide financial services firm. Investment and financial services experts. Forced to file bankruptcy during the financial crisis of 2008 as one

LETTER BY LETTER

Organizing by alphabetic method, ordering entries by letter-sequence. This method treats a multi-word entry as a single stream of letters with no spaces in it. Most reference books follow this method. One

LETTER OF LENIENCY

Offer by deed change to a debtor close to default. Intent is to allow the debtor time to liquidate assets, or arrange to settle the debts without being declared bankrupt. Some or

LEVEL OF CONCERN (LOC)

Indicates serious and immediate health effects possible to any person exposed to a hazard even for a short period. Concentration level of an extremely hazardous substance in air.

LEVERAGED BUYOUT (LBO)

Buying a company by using the company’s assets as collateral for the loan(s) to pay for the purchase. The company’s cash flow and assets are sold off to pay for the loan

LIFE INCOME

Even if the principal amount is exhausted this settlement agreement’s life-time option continues paying the beneficiary in installments.

LIFETIME VALUE OF A CUSTOMER

Estimated total profit, or loss, resulting over the life an ongoing business relationship with a customer. Comparatively higher value from marketing expenditure and/or salesperson compensation justify a high lifetime return on goods

LIMIT OF LIABILITY RULE

For the several insurers covering the same property with a severe loss, this is a method of apportioning that a loss.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.