Business Letters Index
Commercial Terms starting with L.
Legal Tender : Paper of metal money that a Government declares must be accepted as a lawful payment of debts.
Letter of Allotment : A letter informing an applicant for shares that certain shares have been allotted to him.
Letter of Credit : A letter written by one person to another, directing him to pay or hold a certain sum of money at the disposal of the third party. It is not transferable by endorsement.
License : It is the permission given to do some act, which, without such permission, would be unlawful.
Lien : A legal right of a person to detain or control property belonging to another until certain charges upon it have been paid or until some pecuniary claim against the owner has been satisfied.
Liquidation : The winding up affairs of an organization.
List price : The price shown in the sales list of the seller.
Liability : Debt or responsibility.
Long : The day-to day record of ship’s voyage in the form of a diary.
Long Bills : Bills of exchange drawn payable at a period exceeding three days after date of sight.
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