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Lat. In the civil law. To name; to cite or quote; to show one's title or authority. Calvin. In feudal law. To determine or pass upon judicially. Law dam en turn, the finding or award of a jury. 2 Bl. Comm. 285. … [Read more...] about LAUDARE

(verb) - To glide; to pass slowly, silently, or by degrees. To slip; to deviate from the proper path. Webster. To fail or fall. Lapse patent. A patent for land issued is substitution for an earlier patent to the same land, which was issued to another party, but has lapsed in consequence of his neglect to avail himself of it. Lapsed devise. See DEVISE. Lapsed legacy. See … [Read more...] about LAPSE

An accounting principle where the last item of inventory in is the first being sold, usually for the purposes of cost accounting. Known as LIFO. … [Read more...] about LAST IN FIRST OUT

When an offer expires or terminates and ceases to exist. There is no more offer and thus acceptance is not possible. … [Read more...] about LAPSE OF OFFER

A court of last resort, is one which decides, definitely, without appeal or writ of error, or any other examination whatever, a suit or action, or some other matter, which has been submitted to its judgment, and over which it has jurisdiction. 2. The supreme court is a court of last resort in all matters which legally come before it; and whenever a court possesses the power to … [Read more...] about LAST RESORT