maritime law, contracts. The pay to loadsmen; that is, persons who sail or row before ships, in barks or small vessels, with instruments for towing the ship, and directing her course, in order that she may escape the dangers in her way. … [Read more...]
LOCAL ACTION
practice, pleadings. An action is local when the venue must be laid in the county where the cause of action arose. … [Read more...]
LIVING TRUST
Also known as an inter vivos trust which is designed to pass directly to trust beneficiaries upon the death of the person making the trust without involving the probate court. A successor trustee is a person appointed to handle the trust upon death functions to transfer the property ownership to the beneficiaries. … [Read more...]
LOAN
A bailment without reward; consisting of the delivery of an article by the owner to another person, to be used by the latter gratuitously, and returned either in specie or in kind. A sum of money confided to another. Ramsey v. Whitbeck, 81 111. App. 210; Nichols v. Fearson, 7 Pet 109, 8 L. Ed. 623; Rodman v. Munson, 13 Barb. (N. Y.) 75; Booth v. Terrell, 16 Ga. 25; Payne v. … [Read more...]
LOCAL GOVERNMENT
City, town, county, municipality or state level government. It is the administrative governmental body of a region, usually smaller or limited in size. … [Read more...]