Category: L

The furthest receding point of ebb-tide. Howard v. Ingersoll, 13 How. 417, 14 L. Ed. 1S9. -Low-water mark. See WATER-MARK.

Repeat purchases may earn this. Also known as patronage discount.

Using the lowest average account total to calculate interest amount.

Using foreign companies with lower wages to generate manufacturing resources as a company’s procurement strategy. A company may be able to lower operational expenses by locating companies operating on leaner budgets than domestic operations. Part of a company’s global sourcing strategy is low-cost country sourcing. Also refer to outsourcing, international procurement organization (IPO).

A 10 to 15 year bond whose price starts low but can grow quickly.

Land parcel identification and location method. A unique combination number of lot-and-block is assigned to a land parcel, distinguishing it from surrounding parcels. Also refer to Recorded Plat Survey System.

An asset whose strike price is close to zero.

In English law. Certain duties which must be paid by those who claim to exercise the elective franchise within certain cities and boroughs, before they are entitled to vote. It is said that the practice became uniform to refer to the poor- rate as a register of “scot and lot” voters; so that the term, when employed to define a right of election, meant only the payment by a parishioner of the sum to which he was assessed on the poor-rate. Brown.

A small tract or parcel of land in a village, town, or city, suitable for building, or for a garden, or other similar uses. See Pilz v. Killingsworth, 20 Or. 432, 26 Pac. 305; Wilson v. Proctor, 28 Minn. 13, 8 N. W. 830; Webster v. Little Rock, 44 Ark. 551; Diamond Mach. Co. v. Ontonagon, 72 Mich. 261, 40 N. W. 448; Fitzgerald v. Thomas, 61 Mo. 500; Phillipsburgh v. Bruch, 37 N. J. Eq. 4S6.

For a lot: Defined quantity; item count. Another name for lot size.