LOT SIZE

An accepted incremental quantity or measure of what an entity is offering for sell or willing to purchase. Another name for lot quantity.

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LOTHERWITE, or 1EYERWIT

In old English law. A liberty or privilege to take amends for lying with a bondwoman without license.

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LOTTERY

A lottery Is any scheme for the disposal or distribution of property by ? chance among persons who have paid, or J LOU LE LEY DONE CHOSE 740

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LOUAGE

Fr. This is the contract of hiring and letting in French law, and may be either of things or of labor. The varieties of each are the following: 1. Letting of things.

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LOUDERMILL RIGHTS

1985 US Supreme court decision, ‘Cleveland Board of Education vs. Loudermill’, gave public employee property rights in their jobs. A public employee cannot be terminated without due process involving a pre-termination hearing, providing an opportunity to present the employee’s side of the story.

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LOURCURDUS

A ram or bell-wether. Cowell.

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LOVE-DAY

In old English law. The day on which any dispute was amicably settled between neighbors; or a day on which one neighbor helps another without hire. Wharton.

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LOW

In a trading session, lowest share price of the day’s trade transactions.

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LOW CARBON STEEL

More ductile and malleable steel type. Can be made into thin sheets suitable for autobody panels. Contains 0.005 to 0.3 percent carbon, and less than 0.6 percent manganese. that

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LOST PROFITS

Estimated damages method to compensate a seller for lost profits caused by buyer’s breach of contract.

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