Category: L

Made while logging activities in a log book, this is the specific calendar date and/or time that the entry was posted.

Lat. Holding the place. A deputy, substitute, lieuteuant, or representative.

Program-controlled computer file specifically for the posting of a program’s events. Serves as an audit trail, diagnostic tool or security measure. User access or data manipulation are typical items logged.

Lat. In the civil law. Able to respond in an action; good for the amount which the plaintiff might recover. Dig. 50, 10, 234, 1.

A ship’s journal. It contains a minute account of the ship’s course, with a short history of every occurrence during the voyage. 1 Marsh. Ins. 312. The part of the log-book relating to transactions in the harbor is termed the “harbor log;” that relating to what happens at sea, the “sea log.” Young, Naut. Diet.

An arrangement allowing a chosen, earnest buyer time to complete its purchase free of pressure from competition. Seller’s and buyer’s written or oral contract requiring that the seller not seek or accept additional offers for a specified period.

Lat. In the civil law. Let ting for hire. The term is also used by text- writers upon the law of bailment at common law. In Scotch law It is translated “loca- tion.” Bell.

When a swaps principal cannot be increased or decreased no matter what the interest does.

In American land law. The designation of the boundaries of a particular piece of land, either upon record or on the land itself. Mosby v. Carlaud, 1 Bibb. (Ky.) 84. The finding and marking out the bounds of a particular tract of land, upon the land itself, in conformity to a certain description contained iu an entry, grant, map, etc.; such description consisting in what are termed “locative calls.” Cunningham v. Browning, 1 Bland (Md.) 329. In mining law. The act of appropriating a “mining claim” (parcel of land containing precious metal in its soil or rock) according to certain established rules. It usually con- sists in placing on the ground, in a conspicuous position, a notice setting forth the name of the locator, the fact that it is thus taken or located, with the requisite description of the extent and boundaries of the parcel. St. Louis Smelting, etc., Co. v. Kemp, 104 U. S. 649, 26 L. Ed. 875. In a secondary sense, the mining claim covered by a single act of appropriation or location. Id. In Scotch law. A contract by which the temporary use of a subject, or the work or service of a person, is given for an ascertained hire. 1 Bell, Comm. 255.

Fr. In French marine law. A local pilot whose business was to assist the pilot of the vessel in guiding her course into a harbor, or through a river or channel. Martin v. Farnsworth, 33 N. Y. Super. Ct 260.