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Issued share capital shares of a company that are heldBy shareholders Judge public official who hears and decides cases in Court Judge-made law (also case law, common law) body of law formed through judicial/court decisions, as opposed to Law formed through statutes or written legislation Judgment lien lien imposed on a person against whom a Judgment has been entered but remains unsatisfied Judicial lien security interests arising as a result of court Proceedings brought by the creditor to secure an interest in the debtor's property Juris doctor (JD) (US) law degree (UK LLB) Juvenile court court that hears cases involving children Under a certain age Lack of legal capacity absence of ability of a person to Enter into contractual relations, sue or be sued Law school (US) graduate school offering courses in law Leading to a law degree Lease contract for which the use and occupation of a Property is conveyed to another, usually in exchange For a sum of money (rent) Leasehold property whose duration of ownership or Occupation is fixed or capable of being fixed Legal entity individual or organisation that can enter into Contracts, is responsible for its actions and can be Sued for damages legal opinion document outlining a lawyer's understanding Of the law regarding a particular situation Legal person artificial entity created by law and given Legal rights and duties, for example a corporation Legal Practice Course (LPC) (UK) course that must be Completed before a person can be qualified as a Solicitor. It is the first step to becoming a solicitor (the Second being working as a trainee solicitor, and the Last being successful completion of the Professional Skills Course). Licence (UK) permission or authority to do something Which would otherwise be illegal. No interest is Transferred in this case. (US license) lien interest or attachment in another's property as Security for payment of an obligation Lien creditor creditor whose claim is secured by a lien Life estate estate granted only for the life of the grantee Life tenant person who holds a life estate or an estate Pur autre vie, or for the benefit of another Liquidated damages (also stipulated damages) Compensation that is agreed to in the contract Liquidation dissolution of a company whereby all assets Are sold and the proceeds used to payoff debts LLB (Legum Baccalaureus) (UK) Bachelor of Laws, law Degree (US JO Uuris doctor)) Loan capital form of long-term borrowing Lockout preventing people from entering a building by Locking it, such that employees cannot work Lower court (also court of first instance) court whose Decisions may be appealed to a higher court magistrates' court (UK) court that has very limited Powers Maker person who makes a promissory note Market economy economic system which permits the Open exchange of goods and services between Producers and consumers. In a market economy, prices And production are largely determined by supply and Demand. The contrasting model to a market economy is Date: 2015-12-11; view: 715
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