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

LINEAR PROGRAMMING

Mathematical computer modeling simulation technique. Calculated the best solutions for allocating energy, machines, materials, money, personnel, space, time, as limited resources to achieve maximum profit or minimum cost. Applies only where every

LINEHAUL

Long distance cargo transport for more than 1,500 kilometers or 1,000 miles between two major cities or ports.

LINEARITY

1. Un-natural, mostly theoretical property of ordered systems and straight lines, characterized by ‘good behavior,’ predictability, and simple proportions. It is not a common feature of the natural (real) world and exists

LINE SLIP

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.

LINE FUNCTION

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

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.

LINES PER INCH (LPI)

A half-tone screen’s horizontal and vertical line or wires count. More lines means a finer screen, smaller dot sizes for printers or smaller pixel sizes for monitors.

LIQUEFIED NATURAL GAS (LNG)

Mainly methane and ethane, natural gas as a liquid is 1/600th of its volume as a gas. LNG is stored and transported in insulated pressure containers. Compressed at moderate pressure, but unlike

LINUX

World’s most popular non-proprietary open source computer operating system (OS). Its proven efficiency, dependability, and reliability is the reason for its popularity. Linux runs the UNIX OS core ‘kernel’ on nearly every

LIQUIDATING DIVIDEND

A company will issue this type of payment to shareholders if the company is claiming bankruptcy or ceasing business operations. Shareholder company share-count determines a shareholder’s payment amount.

LIQUIDATED DAMAGES

Cash compensation, agreed to by signed, written contract for breach of contract, payable to the aggrieved party. The contract succinctly specifies what actions, or omissions, constitute a breach. To be legally enforceable,

LIQUIDITY SQUEEZE

Lending institutions’ reluctance to loan reserve money based on short-term money-availability concerns. This makes it more expensive for banks to borrow funds from each other as interbank market interest rates increase placing

LISTED COMPANY

Stock exchange public trading company with quoted shares. Also known as quoted company.

LIST SERVER

Email messaging services’ dedicated computer system.

LISTERIOSIS

Infected ready-to-eat meat, dairy products, salads, and cook chill dishes transmit Listeria monocytogenes, a grampositive bacteria that causes foodborne disease. Dark red rash over legs and trunks, flulike fever, and lethargy, leading

LISTED SECURITY

Investment instrument, stock, shares, bonds, officially quoted or listed for public trading on a stock exchange. In over the counter market in the US or in alternative investment market in the UK

LIQUIDITYTRAP

When a company holds their assets and does not sell them. It stops any two way traffic of funds causing new buyers to enter the market.

LINER CONFERENCE

Scheduled cargo and/or passenger service on a specific trade route under set rates and terms under this type of agreement among two or more shipping companies. Also known as shipping conference.

LIFETIME RESERVE DAYS

Hospital-stay-allowed-time as a day’s count for the insured. Typically 90 days per stay is allowed under Medicare policy. In case an extension in hospital care is necessary, a lifetime reserve to be

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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.