A sort of base coin, formerly current in England. Cowell.
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LANZAS
In Spanish law. A commutation in money, paid by the nobles and high officers, in lieu of the quota of soldiers tiiey might be required to furnish in war. Tre- […]
LAPIDATION
The act of stoning a person to death.
LAPIDICINA
Lat. In the civil law . A stone-quarry. Dig. 7, 1, 9, 2.
LAPILLI
Lat In the civil law . Precious stones. Dig. 34, 2, 19, 17. Distinguished from “gems,” (ycmmw.) Id.
LAPIS MARMORIUS
A marble stone about twelve feet long and three feet broad, placed at the upper end of Westminster Ilull, where was likewise a marble chair erected on the middle thereof, […]
LAPPING
Concealing theft of cash as a fraudulent practice. A cashier, clerk, or teller takes cash illegally from one customer’s payment to cover up taking cash from a previous customer’s payment, […]
LAPSE
v. To glide; to pass slowly, silently, or by degrees. To slip; to deviate from the proper path. Webster. To fall or fail.
LAPSE OF OFFER
Offer termination , regardless of the reason, other than completion of the deal. An offer lapses due to (1) expiration date reached; (2) a reasonable period has gone by, having […]
LAPSE RATIO
Time-bound tally of expired insurance policies versus the tally of the same-period’s new policies written. An insurer’s measurement. Also known as expiration ratio.
LAPSE,
n. In ecclesiastical law . The transfer, by forfeiture, of a right to present or collate to a vacant benefice from a person vested with such right to another, in […]
Lapsed Coverage
When an insurance policy is terminated or cancelled, and a replacement policy has not been obtained.
LAPSED POLICY
Non-payment of premiums causes cancellation /lapse of a policy..
LAPSUS LINGUAE
a Latin phrase meaning a slip of the tongue.
LAPTOP
Mobile, portable, compact personal computer; the primary attraction over desktops. Contrast to a desktop computer. Screen exist in the cover and can be lowered to close the laptop for easy […]
LARCENOUS
Having the character of larceny; as a “larcenous taking.” Contem- plating or iutendiug larceny; as a “larcenous purpose.”
LARCENOUS INTENT
a term that means having an intent or a plan to steal.
LARCENY
In criminal law . The wrongful and fraudulent taking and carrying away by one person of the mere personal goods of another from any place, with a felonious intent to […]
LARDARIUS REGIS
The king’s lard- erer, or clerk of the kitchen. Cowell.
LARDING MONEY
In the manor of Bradford, in Wilts, the tenants pay to their lord a small yearly rent by this name, which is said to be for liberty to feed their […]
LARGE CAP STOCK
When a companies stock gaines more than $5 billion. Refer to micro and midcap stock.
LARGE CAPITALIZATION STOCK
Denotes stock with $5 billion or more in market capitalization . A US term. Typically a large publicly held bluechip firm. Such firms are seen as major drivers of the […]
LARGE CLAIM POOLING
Claims over a specified amount are placed in a pool to help curb fluctuations in premium amounts for smaller groups, as the pool is made up of claims charged by […]
LARGE L
Fr. Broad; the opposite of “estregte.” strait or strict Pures et largcs. Britt. c. 34.
LARGE LINE CAPACITY
When a stable insurer underwrites a large risk in one policy.