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

LEVEL PREMIUM

A premium that doesn’t change despite any increase in risk.

LEVEL SELLING

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

LEVELED PRODUCTION

Constant production rate regardless of demand fluctuation. Maximum plant capacity utilization and balanced workforce size are the objectives.

LEVERAGE

Use of existing power, information, and material to obtain a successful result, minimizing overall resource expenditure. Influential capability over a system, or environment, to multiply results from one’s efforts with no corresponding

LEVERAGED ESOP

Financing a company’s growth by borrowing against the employee stock exchange ownership program funds.

LEVERAGED LEASE

A three-party lease contract for an asset bought by the lessor by borrowing most or all of the monies to purchase the leased asset. Under this contract, (1) the lessor has no

LEVERAGED RECAPITALIZATION

To make a company less attractive hostile takeover target, it takes on a huge loan and spreads that money among existing shareholders. Also refer to poison pill.

LEVERED FREE CASH FLOW

Money available to company’s stockholders after paying incurred debt interest. The bigger the debt interest due, the less money left for distribution.

LIAISON

1.Communicators for two entities; typically, a corporate situation. 2. Entity responsible for communications from one party to another. 3. Thickener substance for a stew or sauce.

LIBEL

Defamatory statement published through any manner or media. If intended to simply bring contempt, disrespect, hatred, or ridicule to a person or entity it is likely a civil breach of law. However,

LIBERALIZATION

To allow an increase in liberal actions than in previously circumstances.

LIBERTARIANISM

Political and philosophical principle and belief seeking to limit government involvement in civil economical and social matters. Issues need to be settled outside the courts. Its roots trace back to the early

LIBOR RATES

Short-term international interbank loans are charge this interest rate. This interest rate is applied to large loans ranging from one day up to five years between banks. Immediate liquidity borrowing from another

LIBRARY OF CONGRESS CLASSIFICATION

Knowledge classification scheme for subject divisions, indicated by letters, and their subdivisions by numbers. Known as call numbers for books, and other material, as a part of a library’s systematic cataloging and

LIFE ANNUITY

Annuity from a certain date that pays over the life of an individual. Also known as whole life annuity.

LIFE CARE CONTRACT

In return for transferring a property to the caregiver, one or more persons are guaranteed lifetime care and maintenance, under this arrangement .

LIFE CONSERVATION

Research, lawmaking, and increasing public awareness as the means of an administration’s attempts to conserve human lives.

LIFE CYCLE COST

Tally time-bound or over a full life span for a good, service, structure, or system of all recurring and onetime costs Cost to buy, install, operate, maintain, upgrade, as well as residual

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