The Law Dictionary

LICIT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Lawful, permitted, not forbidden. Also spelled licet. … [Read more...]

LICITACION

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In Spanish law. The offering for sale at public auction of an estate or property held by co heirs or joint proprietors, which cannot be divided up without detriment to the whole. … [Read more...]

LIEN

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

The legal right of a secured creditor to forcibly take secured property if the debt isn't paid, usually that financed the property itself. Liens are also commonly referred to as security interests and common examples include mortgages, home equity loans, auto loans and any other type of loan where property is pledged as a guarantee repayment. A mechanic's lien may be filed by a … [Read more...]

LICITARE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Latin: In Roman law. To offer a price at a sale; to bid; to bid often; to make several bids, one above another. Calvin. … [Read more...]

Legal Disclaimer: The content appearing on our website is for general information purposes only. When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. The people providing legal help and who respond are volunteers who may not be lawyers, legal professionals or have any legal training or experience. The law is also subject to change from time to time and legal statutes and regulations vary between states. It is possible that the law may not apply to you and may have changed from the time a post was made. All information available on our site is available on an "AS-IS" basis. It is not a substitute for professional legal assistance. Before making any decision or accepting any legal advice, you should have a proper legal consultation with a licensed attorney with whom you have an attorney-client privilege. For purposes of New York and New Jersey State ethics rules, please take notice that this website and its case reviews may constitute attorney advertising.