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Glossary of terms

Glossary of terms by letter

L

Land Charges Search

A search at the Land Charges Registry to determine whether the property is registered and to find out if any mortgages or interests are listed against the property

Land Registry

A body that maintains records of who owns property and what conditions relate to the property

Landlord

Property owner who rents it out to a Tenant

Law

The system made up of rules established by legislation, custom or practice

Law Lords

The judges who sit in the House of Lords

Lay Magistrate

A Magistrate who is not legally trained

Lease

The letting of land for a prescribed period

Leasehold

Where property is owned for a limited period

Legacy

See Bequest

Legal Aid

Birkett Long does not offer Legal Aid.Legal aid is:Money paid by the Government for legal expenses of people who are deemed not able to afford itGovernment help for those who cannot afford legal representation

Legal Executive

Solicitor's "unadmitted" staff

Legitimate Interest

Where an employer has a right to have certain interests protected by law

Letter before action

This is a formal letter setting out any debts before going to court, usually sent as a final warning

Letter of Administration

This is the authority given by the Probate Registry to deal with the affairs of a deceased person who has not left a valid will

Letter of Consent

A formal letter consenting to the use and/or registration of another party's trade mark

Letter of intent

See Heads of Terms

Levy

The process of a bailiff asserting a claim to goods

Libel

A written and published statement or article which causes harm to reputation

Licence

A privelege to copy or use a program

Lien

A legal right to withhold goods or property until payment is made by a debtor

Limitation Clause

This sets a maximum on the amount of damages a party may have to pay if there is a failure of some part of the contract

Limited Liability

This generally refers to limited companies where the owners' liability to pay the debts of the company is limited to the value of their shares

Limited Liability Patnership

A Limited Liability Partnership (LLP) is a recognised legal entity by virtue of the Limited Liability Partnerships Act 2000, which has some features of a limited company and some of a partnership

Liquidation

This refers to the process by which a company (or part of a company) is brought to an end

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