Land Rehabilitation
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, for example mining, farming and forestry. Land Rehabilitation What is 'Land Rehabilitation' A re-engineering process that attempts to...
Lease Balance
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 car is stolen and not recovered, is totaled in an accident or is otherwise destroyed. The second situation is if...
Land Value Tax (LVT)
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 the fair value of the land into account. The taxation of land is very straightforward, requiring only a valuation of...
Leading Lipstick Indicator
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 to increase during times of economic uncertainty or a recession. Also known as the "lipstick effect." ...
Last-Sale Reporting
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 must be submitted to Nasdaq within 90 seconds of the execution of the trade. Further Reading Method and...
Larry Montgomery
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 directors in 1994, became CEO in 1999, and became chairman in 2003. Montgomery is known for helping to turn Kohl's...
Laughing Heir
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 no personal connection or reason to feel bereaved over the death. Laughing Heir What is 'Laughing Heir' A...
Law Of Demand
DefinitionIn microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases ; conversely, as the price of a good decreases, quantity demanded increases ". In other words, the law of demand describes an inverse relationship between price and quantity demanded of a good. Alternatively, other things...
Landominium
What is 'Landominium' When a person owns a piece of residential property, he or she owns both the house and the land on which the house is constructed. Like a condominium, the property is a part of a larger community where a homeowners' organization is in charge of the landscaping, maintenance, and other services that are supplied. Explaining 'Landominium' Members in landominium...
Larry Ellison
Who is Larry Ellison Larry Ellison is an American businessman, the co-founder of Oracle Corporation, and one of the richest men in the world. Born in New York City in 1944, Ellison grew up in a working-class Jewish neighborhood in the Bronx. His father died when he was nine, and his mother later remarried and moved the family to Chicago....