Monday, December 29, 2008

BUSINESS TURMS “L, M, N, O, P”

L

Legal Tender: Paper or metal money that a Government decrees must be accepted as a lawful payment for debts.


Letter of Allotment: A letter informing as applicant for shares that certain shares that certain shares have been allotted to him.


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.


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 period exceeding three days after date of sight.

No comments: