Category: L

A right in the inhabitants of a parish within a manor, in England, to lop for fuel, at certain periods of the year, the branches of trees growing upon the waste lands of the manor. Sweet.

Later-date amount reporting compared to the insured’s original estimated loss value.

Lat. A colloquy; talk. In old English law, this term denoted the oral altercations of the parties to a suit, which led to the issue, now called the “pleadings.” It also designated an “imparlance,” (q. v.,) both names evidently referring to tbe talking together of the parties. Loqucla sine die, a postponement to an indefinite time. Loquendnm ut vulgus; sentiendum ut docti. We must speak as the common people ; we must think as the learned. 7 Coke, 116. This maxim expresses the rule that, when words are used in a technical sense, they must be understood technically; otherwise, when they may be supposed to be used in their ordinary acceptation. LORD. In English law. A title of honor or nobility belonging properly to the degree of baron, but applied also to the LORD 738

who wrote or kept books of accounts. Dig. 50, 4, 18, 10; Cod. 10, 69.

whole peerage, as In the expression “the house of lords.” 1 Bl. Comm. 396-iOO. A title of office, as lord mayor, lord commissioner, etc. In feudal law. A feudal superior or proprietor ; one of whom a fee or estate is held.

Bond, debenture, preferred stock/preference shares that mature in 10 years or more as an investment instrument.

A proper lookout on a vessel is some one in a favorable position to see, stationed near enough to the helmsman to communicate with him, and to receive communications from him, and exclusively employed in watching the movements of vessels which they are meeting or about to pass. The Genesee Chief v. Fitzhugh, 12 How. 462, 13 L. Ed. 1058.

A year or more in the future, either from the balance sheet date or today, this obligation is due in goods or services. Disclosing its long-term liabilities with their interest rates, other charges and date of maturity in its balance sheet is a firm’s duty.

40 years or more maturity period for this type of mortgage.

Five years or longer strategy to achieve intended performance goals of an organization. Planned improvements of organization’s competitive position, profitability, technology leadership, investment gain, productivity, employee relations, and corporate image are considered to be long-term objectives.