Also called collision damage waivers which is rental insurance that makes the rental company responsible for damages or theft of the rented vehicle. Usually it is not necessary as the renter may be covered by other sources, for example, by use of their credit card which provides the same insurance. … [Read more...]
LOT OF LAND
A small tract or parcel of land in a village, town, or city, suitable for building, or for a garden, or other similar uses. … [Read more...]
LOSS IN INSURANCE
contracts. A loss is the injury or damage sustained by the insured in consequence of the happening of one or more of the accidents or misfortunes against which the insurer, in consideration of the premium, has undertaken to indemnify the insured. 1 Bouv. Inst. n. 1215. 2. These accidents or misfortunes, or perils, as they are usually denominated, are all distinctly enumerated … [Read more...]
LOTHERWITE, OR LEYERWIT
In old English law. A liberty or privilege to take amends for lying with a bondwoman without license. … [Read more...]
LOSS LEADER
A sale of an item below cost in the hope of spreading knowledge and awareness of the vendor and to promote sales of other products and future sales. … [Read more...]