Glossary of Terms
Bankruptcy / Proposal / Financial Glossary |
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| There are 6 entries in the glossary. | |
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| Term | Definition |
| leasing | Leasing is a contract by which a person puts movable property at the disposal of another person for a fixed term and in return for payment. |
| liability | Any legal obligation for which a person or corporation is responsible. |
| lien | A right to enforce a claim upon, or retain possession of a debtor’s asset until the claim is satisfied, usually arising by operation of law rather than express contract between the parties. |
| litigation | A dispute that results in formal Court action or a lawsuit. |
| locality of debtor | Means the principal place during the year immediately preceding the bankruptcy where the debtor has carried on business or where the debtor has resided, or where the greater portion of the property of the debtor is situated. |
| look see | Slang expression meaning "Business Review". |
| Glossary V2.0 | |