What is 'Lawful Money'
Gold coins, silver coins, Treasury notes, and Treasury bonds are all examples of currency that is not issued by the Federal Reserve System but rather by the Treasury Department of the United States. Lawful money differs...
What is a 'Leakage' Leakage is a situation in which capital, or income, exits an economy or system rather than remaining within it. In economics, leakage refers to outflow from a circular flow of income model. In...
DefinitionThe last mile or last kilometer is a colloquial phrase widely used in the telecommunications, cable television and internet industries to refer to the final leg of the telecommunications networks that deliver telecommunication services to retail end-users. More specifically,...
DefinitionLand rehabilitation is the process of returning the land in a given area to some degree of its former state, after some process has resulted in its damage. Many projects and developments will result in the land becoming degraded,...
What is 'Lease Balance' The amount of money that a customer owes under the terms of a vehicle lease contract. The lease balance becomes important in two main situations. The first is in the event that a...
What is 'Land Value Tax - LVT' A tax on the value of a piece of land. Land value tax inherently makes up a portion of all real estate property tax; however, land value tax takes only...
What is 'Leading Lipstick Indicator' An indicator based on the theory that a consumer turns to less expensive indulgences, such as lipstick, when she (or he) feels less than confident about the future. Therefore, lipstick sales tend...
What is 'Last-Sale Reporting' An electronic entry, to the Nasdaq stock market, of the amount and price of shares involved in a transaction's not less than a board lot. Explaining 'Last-Sale Reporting' Trades reported...
Larry Montgomery What is 'Larry Montgomery ' A former CEO and chairman of Kohl's department stores. Montgomery joined Kohl's in 1988 as senior vice president and director of stores. He was appointed to the board of...
DefinitionIn the law of inheritance, a laughing heir is an heir who is legally entitled to inherit the property of a person who has died, even though that heir is only distantly related to the deceased, and therefore has...