An employment privilege given by employers to employees. If given it assures the employee that the employer will hold the employee’s job while absent. Not guaranteed by most employers. The […]
L | Page 33
L
LIEN PLAN
An insurance coverage type rarely issued for a substandard risk . If the insured dies before a certain time, less than the full policy benefit is paid out.
LIEN WAIVER
Before the general contractor can receive money, a mechanic’s lien rights waiver is sometimes required under a construction loan ‘s contract payment provisions.
LIENEE
Debtor or party whose assets or property is held by lien by a creditor, claimant, or ‘lienor’.
Lienholder
A bank, person, or other entity having a financial interest (such as a loan) in a vehicle.
LIENOR
The person having or owning a lien; one who has a right of lien upon prop- erty of another.
LiESA MAJESTAS
Lat Leze-majes- ty, or injured majesty; high treason. It is a phrase taken from the civil law. and anciently meant any offense against the king’s person or dignity.
LIEU
Fr. Place; room. It is only used with “in;” in lieu, instead of. Enc. Lond.
LIEU CONUS
L. Fr. In old pleading. A known place; a place well known and generally taken notice of by those who dwell about it, as a castle, a manor, etc. Whishaw; […]
LIEU DAYS
To compensate for unpaid overtime, working days given as offdays.
LIEUTENANCY, COMMISSION OF
See COMMISSION OF ARRAY .
LIEUTENANT
any debt or d_ity; every such claim or charge remaining a lieu on the property, although not in the possession of the person’ to whom the debt or duty is […]
LIFE
That state of animals and plants, or of an organized being, in which its natural functions and motions are performed, or in which its organs are capable of performing their […]
LIFE ACQUISITION COST SECURITIZATION
A life insurance policy written for investors where the costs come from an insurance linked security.
LIFE ANNUITY
Annuity from a certain date that pays over the life of an individual . Also known as whole life annuity .
LIFE BENEFICIARY
Someone entitled to an asset’s use during one’s lifetime, named as a beneficiary
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
1. In General, this is defining the cyclical nature of living organisms. Tracking cradle to grave life stages: birth, growth, maturity, decay, and death across families, organizations, processes, products, and […]
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 […]
LIFE CYCLE COSTING
Procurement , production , life-cycle costing technique. Cost to buy, install, operate, maintain and upgrade, and waste during the asset’s economic life are tracked to determine the lowest cost of […]
LIFE CYCLE ENGINEERING
One decision support tool as a management practice combines all relevant information about economy, enrichment, finance, and technology. Charting a manufacture product’s optimum life cycle is the goal. Also refer […]
LIFE CYCLE MANAGEMENT
A process for managing system software, hardware, and support over the life of a system. In this process, the focus is on the initial development and implementation stages as projects […]
LIFE CYCLE OF A PRODUCT
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 […]
LIFE CYCLE OF A RECORD
Three distinct stages of (1) creation, (2) use and maintenance, and (3) disposition or disposal exist for each document and record. Defined as a management concept.