L

Lat. A line; line of descent. See Line. Linea obliqua. In the civil law. The oblique line. More commonly termed "linea transversahs^Tiinea recta. The direct line; the vertical line. In computing degrees of kindred and the succession to estates, this term denotes the direct line of ascendants and descendants. Where a person springs from another immediately, or mediately through … [Read more...] about LINEA

A limitation on the legal liability of a person or business, such as a corporation limiting the liability of shareholders to the amount spent investing in the business (absent exceptions) for the debts, claims and other liabilities of a corporation. … [Read more...] about LIMITED LIABILITY

Properly speaking lineage is the relationship of persons in a direct line; as the grandfather, the father, the son, the grandson. Race; progeny; family, ascending or descending. … [Read more...] about LINEAGE

Commonly abbreviated as LLC, it is a corporate vehicle that provides limited liability such as corporations with the pass through treatment of gains and losses to owners on their personal income tax returns as is the manner of partnerships. … [Read more...] about LIMITED LIABILITY COMPANY (LLC)

That which comes in a line. Lineal consanguinity is that which subsists between persons, one of whom is descended in a direct line from the other. Lineal descent, is that which takes place among lineal kindred. That which comes in a line; especially a direct line, as from father to son. Collateral relationship is not called "lineal," though the expression "collateral line," is … [Read more...] about LINEAL