Dictionary

Liquidity

Definition:   The ability to sell an asset and convert it into cash at a price close to its true value. Pronunciation:    \li-ˈkwi-də-tē\ Used in a Sentence:    Publically traded stocks...

Liquidation

Definition:   the process of determining liabilities and apportioning the assets in order to discharge the indebtedness of a business to be sold Pronunciation:  \ˌli-kwə-ˈdā-shən\ Used in a Sentence:   A liquidation...

Liquidated Damages

Definition:   the amount of valuable consideration specified in an agreement as a penalty for default Pronunciation:   \ˈli-kwə-ˌdāt\ \ˈda-mij\ Used in a Sentence:    Some contracts have a special box for parties...

Lineal

Definition:   descended in a direct family line; related by a direct series of parents and children Pronunciation:  \ˈli-nē-əl\ Used in a Sentence:   He claims he is a lineal descendant of a...

Limited Partnership

Definition:   a business entity consisting of one or more general partners and one or more limited partners Pronunciation:   \ˈli-mə-təd\ \ˈpärt-nər-ˌship\ Used in a Sentence:    A limited partnership is not...

Limited Liability Partnership

Definition:   a business entity that features protection from personal liability but with fewer legal restrictions compared with other business entities Pronunciation:  \ˈli-mə-təd\ \ˌlī-ə-ˈbi-lə-tē\  \ˈpärt-nər-ˌship\ Used in a Sentence:   A limited liability partnership...