A system of identification and location for parcels of land. Each parcel of land will have a lot and block number which is assigned to it and is present upon a deed of title. … [Read more...]
LOSS
(a) In insurance. 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 no. 1215. Actual loss. One resulting from the real and substantial destruction of the property insured. Constructive loss. … [Read more...]
LOT AND SCOT
In English law. Certain duties which must be paid by those who claim to exercise the elective franchise within certain cities and boroughs, before they are entitled to vote. It is said that the practice became uniform to refer to the poor rate as a register of "scot and lot" voters; so that the term, when employed to define a right of election, meant only the payment by a … [Read more...]
LOSS CARRYOVER
See carryover. … [Read more...]
LOT OF GROUND
A small piece of land in a town or city usually employed for building, a yard, a garden or such other urban use. Lots are in-lots, or those within the boundary of the city or town, and out-lots, those which are out of such boundary, and which are used by some of the inhabitants of such town or city. … [Read more...]