An official lending institution representative who is empowered to act on behalf of the lender within certain limits. …
Limited Partnership
Real estate syndicates and other investment groups use this type of ownership.. A general partner makes the group's investment decisions, oversees the investment and is principally liable for any …
Lintel
A horizontal piece over a door or window that carries the weight of the structure above it. …
Liquid Assets
Cash and all other assets that can be converted to cash relatively quickly. Liquid assets can include money in savings and checking accounts, money-market accounts, and most certificates of deposit. …
Liquidated Damages
A sum of money specified in the purchase contract to be paid by one party to the other in the event of a breach of contract. …
Liquidity
The ability to sell an asset at a price close to its true value and convert it into cash in a short period of time. …