L

Restricted; bounded; prescribed. Confined within positive bounds; restricted in duration, extent, or scope. -Limited administration. An administration of a temporary character, granted for a particular period, or for a special or particular purpose. Holthouse. Limited owner. A tenant for life, in tail, or by the curtesy, or other person not having a fee simple in his absolute … [Read more...] about LIMITED

A right of cutting fuel in woods; also a tribute or payment due for the same. Jacob. … [Read more...] about LIGNAGIUM

A guarantee that is narrow and limited in nature only to the explicit terms set forth in the guarantee. … [Read more...] about LIMITED GUARANTEE

An insurance policy that provides a cash payment to a beneificiary upon the death of the insured. … [Read more...] about LIFE INSURANCE POLICY

Goods cast into the sea tied to a buoy, so that they may be found again by the owners, are so denominated. When goods are cast into the sea in storms or shipwrecks, and remain there, without coming to land, they are distinguished by the barbarous names of "jetsam," "flotsam," and "ligan." 5 Coke, 108; Harg. State Tr. 48; 1 Bl. Comm. 292. … [Read more...] about LIGAN, LAGAN