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

LEGACY SYSTEM

Because its data cannot be updated to newer or standard formats, or its applications easily upgraded, obsolete computer systems may be operation essentials.

LEGAL ACTION

Lawful pursuit for justice or decision under the law, typically leading to proceeding within the jurisdiction’s court system. An entity accuses another for a unlawful action, to protect an entity’s rights from

LEGAL CUSTODY

Documentary material or records under lawful control, ownership, with access to possess, or responsibility for.

LEGAL DEFEASANCE

The lender can require debts be paid before stating the bond is paid in full when outstanding debts occurred on the bond.

LEGAL ENTITY

A lawful or legally standing association, corporation, partnership, proprietorship, trust, or individual. Has legal capacity to (1) enter into agreements or contracts, (2) assume obligations, (3) incur and pay debts, (4) sue

LEGAL INJURY

Law provides specific remedy or damages for property damage, bodily harm, or violation of a right.

LEGAL LEASE

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

LEGAL LIABILITY

Lawful accountability and obligations required due to civil actions or torts, or a contract’s terms. Only a court-decision can set this obligation even if by mutual agreement a settlement occurs out of

LEGAL LIFE

Intangible asset’s lawful duration. Patent or copyright is an example of such an asset. If an asset’s economic life is shorter than its legal life, the computed amortization uses the economic life.

LEGAL PERSONALITY

Sum total of an individual’s legal advantages and disadvantages. Defined as the lawful characteristics and qualities of an entity. An example of these are a person’s age or asset ownership. From this,

LEGAL POSITIVISM

Social perspective of a legal rule’s validity being authorized by law and socially accepted versus being based on natural or moral law. View of man-made law as posited by man for man,

LEGAL REALISM

A perspective that legal rules are to benefit the larger society and public policy based on judicial decisions. Neither dogma or supernatural authority applies. A court is expected to determine ‘legal rights’

LEGAL REMEDY

The way a right is enforced by a court of law when injury, harm, or a wrongful act is imposed upon another individual. The laws of remedies will be based on the

LEGAL SYSTEM

Jurisdiction’s basis of applying law consists of (1) A constitution, written or oral; (2) Primary legislation, statutes, and laws; authorized by constitutionally authorized legislative body; (3) Primary legislation authorized body enacts subsidiary

LEGAL WEIGHT

Lawfully certified weight based on the use of a lawfully certified scale or weight counterbalance. An article’s unit weight is calculated by adding the article’s basic weight and the wrapping and container

LEGALITY

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.

LEGALLY BINDING

Common legal phrase. Lawful action, such as an agreement consciously agreed to by two or more entities, establishing lawful accountability. For example, an apartment lease legally binds the lessor and the lessee.

LEGALLY INCAPACITATED

Person unable to make rational decisions or engage in responsible actions. Mental and/or physical deficiency, disability, illness, drug use causing temporary or permanent impairment.

LEGEND

Conspicuously displayed table containing symbols with concise explanation that are used in a chart, diagram, drawing, map, table, and the like.

LEGEND DRUG

Caution: Federal law prohibits dispensing without a prescription’ labeled drug.

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.