Dictionary of third edition A & C Black London Phần 6 ppsx

countant was completely legal. 2. refer- ring to the law to take legal action to

sue someone or to take someone to court

to take legal advice to ask a lawyer to

advise about a legal problem

legal adviser /
li(ə)l ədvazə/

noun a person who advises clients about

the law

Legal Aid /li(ə)l ed/, Legal Aid

scheme /
li(ə)l ed skim/ noun a British government scheme where a

person with very little money can have

legal representation and advice paid for

by the state

legal charge /
li(ə)l tʃɑd$/ noun

a legal document held by the Land Reg- istry showing who has a claim on a

property

legal claim /li(ə)l klem/ noun a statement that someone owns something

legally
He has no legal claim to the

property.

legal costs /li(ə)l kɒsts/, legal

charges /li(ə)l
tʃɑd$z/, legal ex￾penses /li(ə)l k
spensz/ plural

noun money spent on fees to lawyers

The clerk could not afford the legal ex￾penses involved in suing his boss.

legal currency /
li(ə)l krənsi/

noun money which is legally used in a

country

legal department /li(ə)l d-
pɑtmənt/ noun a section of a com- pany dealing with legal matters

legal expert /li(ə)l
eksp%t/ noun

a person who knows a lot about the law

legal holiday /
li(ə)l hɒlde/

noun a day when banks and other busi- nesses are closed

legalisation /
liəlazeʃ(ə)n/, le￾galization noun the act of making

something legal
the campaign for the

legalisation of cannabis

legalise /liəlaz/, legalize verb to

make something legal

legal list /li(ə)l lst/ noun a list of

blue-chip securities in which banks and

financial institutions are allowed to in- vest by the state in which they are based

legal personality /
li(ə)l
p%sə- nləti/ noun existence in a form that

enables something to be affected by the

law

legal proceedings /li(ə)l prə-
sidŋz/ plural noun legal action or a

lawsuit

legal profession /li(ə)l prə-
feʃ(ə)n/ noun all qualified lawyers

legal section /li(ə)l
sekʃ(ə)n/

noun a department in a company deal- ing with legal matters

legal tender /
li(ə)l tendə/ noun

coins or notes which can be legally used

to pay a debt

legatee /
leəti/ noun a person who

receives property from someone who

has died

legislation /
led$sleʃ(ə)n/ noun

laws labour legislation laws concern- ing the employment of workers

lek /lek/ noun a unit of currency used

in Albania

lempira /lempərə/ noun a unit of

currency used in Honduras

lend /lend/ verb to allow someone to

use something for a period
to lend

something to someone or to lend some￾one something
to lend money against

security
He lent the company money or He lent money to the company.
The

bank lent him £50,000 to start his busi￾ness. (NOTE: lending – lent)

lender /lendə/ noun a person who

lends money

lender of the last resort /
lendə əv

ðə
lɑst rzɔt/ noun a central bank

which lends money to commercial

banks

lending /lendŋ/ noun an act of let- ting someone use money for a time

lending limit /lendŋ
lmt/ noun a restriction on the amount of money a

bank can lend

lending margin /lendŋ
mɑd$n/

noun an agreed spread (based on the

LIBOR) for lending

length of service /
leŋθ əv s%vs/

noun the number of years someone has

worked

leone /liəυn/ noun a unit of currency

used in Sierra Leone

less /les/ adjective smaller than, of a

smaller size or of a smaller value
We

do not grant credit for sums of less than

£100.
He sold it for less than he had

paid for it. preposition minus, with a

sum removed
purchase price less

legal adviser 201 less

15% discount
interest less service

charges adverb not as much

less developed country /les d-
veləpt kntri/ noun the former name

for a least developed country (dated.)

Abbreviation LDC

lessee /lesi/ noun a person who has a

lease or who pays money for a property

he leases

lessor /lesɔ/ noun a person who

grants a lease on a property

let /let/ verb to allow the use of a

house, an office or a farm to someone

for the payment of rent offices to let

offices which are available to be leased

by companies noun the period of the

lease of a property
They took the of- fice on a short let.

let-out clause /let aυt klɔz/ noun a clause which allows someone to avoid

doing something in a contract
He

added a let-out clause to the effect that

the payments would be revised if the ex￾change rate fell by more than 5%.

letter /letə/ noun 1. a piece of writing

sent from one person or company to an￾other to ask for or to give information 2.

to acknowledge receipt by letter to

write a letter to say that something has

been received 3. a written or printed

sign (such as A, B, C etc.)
Write your

name and address in block letters or in

capital letters.

COMMENT: First names are commonly

used between business people in the UK;

they are less often used in other Euro￾pean countries (France and Germany), for

example, where business letters tend to

be more formal.

letter of acknowledgement /
letər

əv əknɒld$mənt/ noun a letter which

says that something has been received

letter of advice /
letər əv ədvas/

noun 1. a letter to a customer giving de- tails of goods ordered and shipped but

not yet delivered
The letter of advice

stated that the goods would be at

Southampton on the morning of the 6th.

The letter of advice reminded the cus- tomer of the agreed payment terms. 2. a letter from one bank to another, advising

that a transaction has taken place

letter of application /
letər əv

plkeʃ(ə)n/ noun a letter in which

someone applies for a job

letter of appointment /
letər əv ə- pɔntmənt/ noun a letter in which

someone is appointed to a job

letter of comfort /
letər əv kmfət/

noun a letter supporting someone who is

trying to get a loan

letter of credit /
letər əv kredt/

noun a document issued by a bank on

behalf of a customer authorising pay- ment to a supplier when the conditions

specified in the document are met. Ab- breviation L/C

letter of indemnity /
letər əv n- demnti/ noun a letter promising pay- ment as compensation for a loss

letter of intent /
letər əv ntent/

noun a letter which states what a com- pany intends to do if something happens

letter of reference /
letər əv

ref(ə)rəns/ noun a letter in which an

employer recommends someone for a

new job

letter of renunciation /
letər əv r-
nnsieʃ(ə)n/ noun a form sent

with new shares, which allows the per￾son who has been allotted the shares to

refuse to accept them and so sell them to

someone else

letter post /letə pəυst/ noun a ser- vice for sending letters or parcels

letter rate /letə ret/ noun postage

(calculated by weight) for sending a let￾ter or a parcel
It is more expensive to

send a packet letter rate but it will get

there quicker.

letter security /letə s
kjυərti/,

letter stock /letə stɒk/ noun US a share which has not been registered with

the SEC and therefore can be sold pri- vately, together with a letter of intent, or

traded in the normal way if the owner

files with the SEC using a Form 144

letters of administration /
letəz

əv ədmnstreʃ(ə)n/ plural noun a letter given by a court to allow someone

to deal with the estate of a person who

has died

letters patent /
letəz petənt/ plural

noun the official term for a patent

letting agency /letŋ
ed$ənsi/

noun an agency which deals in property

to let

leu /leju/ noun a unit of currency

used in Romania and Moldova

less developed country 202 leu

lev /lev/ noun a unit of currency used

in Bulgaria

level /lev(ə)l/ noun the position of

something compared to others
low

levels of productivity or low productivity

levels
to raise the level of employee

benefits
to lower the level of

borrowings high level of investment

large amounts of money invested verb

to level off or to level out to stop ris- ing or falling
Profits have levelled off

over the last few years.
Prices are lev- elling out.

‘…figures from the Fed on industrial production

for April show a decline to levels last seen in

June 1984’ [Sunday Times]

‘…applications for mortgages are running at a

high level’ [Times]

‘…employers having got their staff back up to a

reasonable level are waiting until the scope for

overtime working is exhausted before hiring’

[Sydney Morning Herald]

leverage /livərd$/ noun 1. a ratio

of capital borrowed by a company at a

fixed rate of interest to the company’s

total capital 2. the act of borrowing

money at fixed interest which is then

used to produce more money than the

interest paid

COMMENT: High leverage (or high gear￾ing) has the effect of increasing a com￾pany’s profitability when trading is

expanding; if the company’s trading slows

down, the effect of high fixed-interest

charges is to increase the rate of

slowdown.

leveraged /livərd$/ adjective using

borrowings for finance

leveraged buyout /
livərd$d

baaυt/, leveraged takeover

/
livərd$d tekəυvə/ noun an act of

buying all the shares in a company by

borrowing money against the security of

the shares to be bought. Abbreviation

LBO

‘…the offer came after management had offered

to take the company private through a leveraged

buyout for $825 million’ [Fortune]

leveraged stock /livərd$d stɒk/

noun stock bought with borrowed

money

levy /levi/ noun money which is de- manded and collected by the govern- ment levies on luxury items taxes on

luxury items verb to demand payment

of a tax or an extra payment and to col- lect it
to levy a duty on the import of

luxury items
The government has de￾cided to levy a tax on imported cars. to levy members for a new club house

to ask members of the club to pay for

the new building

‘…royalties have been levied at a rate of 12.5%

of full production’ [Lloyd’s List]

liabilities /
laəbltiz/ plural noun

the debts of a business, including divi- dends owed to shareholders
The bal- ance sheet shows the company’s assets

and liabilities. he was not able to

meet his liabilities he could not pay his

debts to discharge your liabilities in

full to pay everything which you owe

liability /
laəblti/ noun 1. a legal

responsibility for damage, loss or harm

The two partners took out insurance

to cover employers’ liability. to ac- cept liability for something to agree

that you are responsible for something to refuse liability for something to re- fuse to agree that you are responsible for

something 2. responsibility for a pay￾ment (such as the repayment of a loan)

liable /laəb(ə)l/ adjective liable

for legally responsible for
The cus￾tomer is liable for breakages.
The

chairman was personally liable for the

company’s debts.
The garage is liable

for damage to customers’ cars.

LIBID abbreviation London Interbank

Bid Rate

LIBOR abbreviation London Interbank

Offered Rate

licence /las(ə)ns/ noun an official

document which allows someone to do

something (NOTE: The US spelling is li￾cense.) drinks licence, alcohol

licence, liquor license a permit to sell

alcohol in a restaurant, etc. goods

manufactured under licence goods

made with the permission of the owner

of the copyright or patent

license /las(ə)ns/ noun US spelling

of licence verb to give someone offi- cial permission to do something for a

fee, e.g. when a company allows another

company to manufacture its products

abroad
licensed to sell beers, wines

and spirits
to license a company to

manufacture spare parts
She is li- censed to run an employment agency.

licensed dealer /
las(ə)nst dilə/

noun a person who has been licensed by

the DTI to buy and sell securities for in- dividual clients

lev 203 licensed dealer

licensed deposit-taker /
las(ə)nst

dpɒzt
tekə/, licensed institution

/
las(ə)nst
nsttjuʃ(ə)n/ noun a de- posit-taking institution, such as a build- ing society, bank or friendly society,

which is licensed to receive money on

deposit from private individuals and to

pay interest on it. Abbreviation LDT

licensee /
las(ə)nsi/ noun a person

who has a licence, especially a licence

to sell alcohol or to manufacture

something

licensing /las(ə)nsŋ/ adjective re- ferring to licences
a licensing agree- ment
licensing laws

lien /liən/ noun the legal right to hold

someone’s goods and keep them until a

debt has been paid

lieu /lju/ noun in lieu of instead of she was given two months’ salary in

lieu of notice she was given two

months’ salary and asked to leave

immediately

life /laf/ noun the period of time for

which something or someone exists life of a contract the remaining period

of a futures contract before it expires

life assurance /laf ə
ʃυərəns/

noun insurance which pays a sum of

money when someone dies, or at a cer￾tain date if they are still alive

life assurance company /laf ə- ʃɔrəns
kmp(ə)ni/ noun a company

providing life assurance, but usually

also providing other services such as in- vestment advice

life assured /laf əʃυəd/ noun the

person whose life has been covered by a

life assurance policy

lifeboat operation /
laf
bəυt
ɒpə- reʃ(ə)n/ noun actions taken to rescue

of a company (especially of a bank)

which is in difficulties

life estate /laf stet/ noun same as life interest

life expectancy /laf kspektənsi/

noun the number of years a person is

likely to live

life insurance /laf n
ʃυərəns/

noun same as life assurance

life insured /laf nʃυəd/ noun same as life assured

life interest /laf ntrəst/ noun a sit- uation where someone benefits from a

property as long as he or she is alive

lifeline account /laflan ə
kaυnt/

noun US a simple bank account for peo- ple with low incomes, used for receiving

salary payments and offering few

services

lifestyle /laf stal/ noun the way of

living of a particular section of society

These upmarket products appeal to

people with an extravagant lifestyle.

The magazine ran a series of articles on

the lifestyles of some successful

businessmen.

lifestyle audit /lafstal
ɔdt/ noun

a study of a person’s living standards to

see if it is consistent with his reported

income

Lifetime Individual Savings Ac- count /
laftam
ndvd$uəl

sevŋz ə
kaυnt/ noun a British

scheme by which individuals can invest

for their retirement by putting a limited

amount of money each year in a tax-free

unit trust account. Abbreviation LISA.

ISA

LIFFE abbreviation London Interna￾tional Financial Futures and Options

Exchange

LIFO /lafəυ/ abbreviation last in first

out

light /lat/ adjective 1. not heavy, not

very busy or active shares fell back

in light trading shares lost value on a

day when there was little business done

on the Stock Exchange 2. not having

enough of a certain type of share in a

portfolio
His portfolio is light in

banks.

lighten /lat(ə)n/ verb to sell

shareholdings if a portfolio is too

‘heavy’ in a certain type of share

light industry /
lat ndəstri/ noun

an industry making small products such

as clothes, books or calculators

like-for-like /
lak fə lak/ adjective

on a like-for-like basis when compar- ing the same stores over different peri- ods like-for-like store sales sales for

the same stores over an earlier period

lilangeni /
lilŋeni/ noun a unit of

currency used in Swaziland

limit /lmt/ noun the point at which

something ends or the point where you

can go no further he has exceeded his

credit limit he has borrowed more

money than he is allowed limit ‘up’,

licensed deposit-taker 204 limit