Liberation clause – this legal term has got an application in the Law of Contracts in some legal systems. In practice, when parties negotiate contracts, they agree that some activities could be dangerous for the assignee. So the parties conclude…
Letter of engagement – This legal term finds application in the sphere of Banking Law. It refers to an official statement, issued by a bank towards the borrower and any interested parties. Where the bank states in the document that…
Limited administration – within the meaning, given by the Inheritance Law, this term refers to a limited management of the assets of a deceased person, and usually it is appointed by the local court.
Limitation clause – this is a voluntary clause in contracts, setting the maximum of a penalty for delay or non-performance to be claimed in eventual case of non-performance by one of the parties. Please consult with an independent lawyer before…
Lighten – this legal term means to reduce (for example, amount of local taxes due).
Life tenant – within the meaning of the Property Law in many European countries, this is a person who has been granted with a right, implemented in a Title Deed for gift of a property against providing personal care, to…
Life property deed – in the meaning, given by the Real Estate Law, this is a possession right given to you to use and to manage land and/or structures on land only for the life tenant. The asset goes back…
Life imprisonment – within the area of Criminal Law this term refers to a sentence, given for serious crimes, for example murders of 2 or more people.
Life assured – within the area of Insurance Law, this legal term details the figure of a person who has signed a life insurance policy with a local insurance company. The life interest on this policy will be forwarded to…
Lien waiver – this term refers to an application for release of a lien on a property, for example, a situation of purchased apartment via mortgage credit, once the mortgage loan has been paid back in full towards the crediting…