ILEC_09.txt

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Anonymous
ID:
174484
Filename:
ILEC_09.txt
Updated:
2012-09-30 15:21:26
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ILEC
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Legal English
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  1. law school
    (US) graduate school offering courses in law leading to a law degree
  2. lease
    contract for which the use and occupation of a property is conveyed to another, usually in exchange for a sum of money (rent)
  3. leased premises
    land, building or space in a building which is stated in the relevant lease and occupied by the tenant
  4. leasehold
    property whose duration of ownership or occupation is fixed or capable of being fixed
  5. legal entity
    individual or organisation that can enter into contracts, is responsible for its actions and can be sued for damages
  6. legal opinion
    document outlining a lawyer's understanding of the law regarding a particular situation
  7. legal person
    artificial entity created by law and given legal rights and duties, for example a corporation
  8. Legal Practice Course (LPC)
    (UK) course that must be completed before a person can be qualified as a solicitor. It is the first step to becoming a solicitor (the second being working as a trainee solicitor, and the last being successful completion of the Professional Skills Course).
  9. letter of credit
    financial instrument, often issued by the buyer's bank, through which the bank agrees to make payment up to a specified amount for a particular period for goods when delivered
  10. lex causae
    (Latin) law or laws the forum court decides should apply to a case from the relevant legal systems available for determination of an international case
  11. lex domicilii
    (Latin) refers to the law of a party's domicile as applied in a choice of law situation
  12. lex fori
    (Latin) law of the forum in which the matter is pending
  13. lex loci actus
    (Latin) law of the place where the act involved in the case was carried out
  14. lex loci arbitrl
    (Latin) law of the place where arbitration is to take place (in conflict-of-Iaws context)
  15. lex loci contractus
    (Latin) law of the place where the contract is made
  16. lex loci delictl
    (Latin) law of the place where the wrong was done
  17. lex loci solutionis
    (Latin) law of the place at which payment or performance of a contract is to take place
  18. lex mercatoria
    (Latin) refers to a set of trading principles used by merchants in Europe during the Middle Ages; today refers to a system of laws which is adopted by all commercial nations
  19. lex patriae
    (Latin) national law
  20. licence
    (UK) permission or authority to do something which would otherwise be illegal. No interest is transferred in this case. (US license)
  21. lien
    interest or attachment in another's property as security for payment of an obligation
  22. lien creditor
    creditor whose claim is secured by a lien
  23. life estate
    estate granted only for the life of the grantee
  24. life tenant
    person who holds a life estate or an estate pur autre vie, or for the benefit of another
  25. liquidated damages
    (also stipulated damages) compensation that is agreed to in the contract
  26. liquidation
    dissolution of a company whereby all assets are sold and the proceeds used to pay off debts
  27. lis alibi pendens
    (Latin) refers to when a dispute is pending elsewhere and can be pleaded by a party to avoid duplication of judgments in different jurisdictions
  28. LLB (Legum Baccalaureus)
    (UK) Bachelor of Laws, law degree (US)O (juris doctor))
  29. loan capital
    form of long-term borrowing
  30. lockout
    preventing people from entering a building by locking it, such that employees cannot work

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