In old European law. A kind of servant: one who surrendered himself into another’s power. Spelman. In the civil law . The bank of a stream or shore of the […]
L | Page 44
L
LIVE SPACE
Area inside a wall that reflects sound, thus sustaining it.
LIVE WIRE
current is flowing through this part of electrical wiring. Contrast to a ground wire or a neutral wire. Also known as hot wire.
LIVELODE
Maintenance; support.
LIVERY
1. In English law . Delivery of possession of their lands to the king’s tenants in capite or tenants by knight’s service. 2. A writ which may be sued out […]
LIVERY USE
Carrying passengers using a rented vehicle. Typically an automobile insurance policies’ exclusion.
LIVESTOCK COVERAGE FORM
Livestock is insured using this commercial form. Farm coverage often carries this as an add-on.
LIVESTOCK INSURANCE
Animal’s death by a stated cause in this type of insurance policy sets a lump sum benefit payable to the insured.
LIVESTOCK MORTALITY INSURANCE
Essentially life insurance for animals; Insurance on livestock.
LIVESTOCK TRANSIT INSURANCE
livestock killed or damaged while being transported by rail, truck, or other comparable means is covered by this insurance, paying a lump sum to the insured.
LIVING BENEFITS RIDER
A insurance rider attached to a life insurance contract for an insured person who is terminally ill , providing long-term care benefits.
LIVING NEED BENEFITS
Allows life insurance to have long-term care benefits. Stems from a mixture of life insurance and long-term care coverage. This practice reduces the value of the life insurance policy is […]
LIVING SPECIFICATION
Focusing on form, fit, and function, this set of flexible requirements are designed to easily fit new products, processes, and more advanced requirements into what currently exists. It promotes continuous […]
LIVING TRUST
Revocable trust as an estate planning device, built on property transfer or gift to one or more beneficiaries from its living trustor. It is not a way to stave off […]
LIVING UNIT
A family uses this dwelling as a type of housing.
LIVING WAGE
Income from working that is sufficient to pay the bills, buy enough food, handle emergencies, and stay off welfare.
LIVING WILL
Legal document effective while its testator lives. This covers death if imminent due to a medical condition or an accident. Medical care and degree of medical intervention and life sustaining […]
LIVRE TOURNOIS
A coin used in France before the Revolution. It is to be computed in the ad valorem duty on goods, etc., at eighteen and a half cents. Act Cong. March. […]
LJESIO ULTRA DIMIDIUM VEL EN- ORMIS
In Roman law. The injury sustained by one of the parties to an onerous contract when he had been overreached by the other to the extent of more than one- […]
LL
The reduplicated form of the abbreviation “L.” for “law,” used as a plural. It is generally used in citing old collections of statute law ; as “LL. Hen. I.”
LLB, IXM, and LLD
Abbreviations used to denote, respectively , the three aca- demic degrees in law,
LLOYD
A broker who works specifically for LLoyds house of london.
LLOYD’S
An association in the city of London, for the transaction of marine insur- ance, the members of which underwrite each other’s policies. See Durbrow v. Eppens, 05 N. J. Law, […]
LLOYD’S ASSOCIATION
Lloyd’s of London is copied by an organized group. It is not affiliated with Lloyd’s. Only responsible for the risk portion they choose to insure, unrelated entities congregate to collectively […]
LLOYD’S BROKER
Authorized negotiator with the underwriters at Lloyd’s. who offers prospective risks.