Tooltip Tags: law

litigation

The process of taking legal action. https://www.lexico.com/en/definition/litigation

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limited partnership

A type of unincorporated business organization in which the individuals called limited partners may invest but not be directly involved in management and are liable

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limited liability company [LLC]

A flexible form of enterprise that blends elements of partnership and corporate structures; a legal form of company that provides limited liability to its owners.

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life tenant

One who has all rights associated with ownership of real property, except the right to sell the property, until his/her (or someone else’s) death. (source:

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leonine clause

A party is excused from sharing liabilities arising out of the agreement as a stated provision in said agreement. (Law Dictionary: http://thelawdictionary.org/leonine-clause/#ixzz2cd7ItujX)

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legacy

Money or property bequeathed to another by will. (source: http://www.thefreedictionary.com/legacy)

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legal interest rate

Rate of interest charged by the public administration to individuals and businesses in all its relationships.

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legal person

A company that has full legal rights and responsibilities according to the law. (source: http://dictionary.cambridge.org/dictionary/business-english/legal-person)

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lawsuit

A civil action brought in a court of law in which a plaintiff, a party who claims to have incurred loss as a result of

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