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LOT OF LAND

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

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

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

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

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In old English law. A liberty or privilege to take amends for lying with a bondwoman without license. … [Read more...]

LOSS LEADER

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

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...]

LOTTERY

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A lottery is any scheme for the disposal or distribution of property by chance among persons who have paid, or promised or agreed to pay, any valuable consideration for the chance of obtaining such property, or a portion of it, or for any share of or interest in such property, upon any agreement, understanding, or expectation that it is to be distributed or disposed of by lot … [Read more...]

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