James Scott No Comments

Leading

Involves guiding the activities of employees and creating an environment where employees will excel at what they do for mutual benefits of the employees themselves and the brokerage overall.

James Scott No Comments

Leakage

Diminution of liquid caused by leaking form the container in which it was placed.

James Scott No Comments

Lease

An agreement which gives rise to relationship of landlord and tenant (real property) or

lessor and lessee (real or personal property). The party who conveys is called the “lessor,” and the party to whom conveyed, the “lessee.”

James Scott No Comments

Lease Bond

Bond given to lessor (landlord) guaranteeing the lessee (tenant) will perform the terms of the lease.

James Scott No Comments

Leasehold Improvements

Interest of lessee in value of lease which is the difference between the total remaining rent under the lease and that which lessee would currently pay for similar space for the same time period.

James Scott No Comments

Leasehold Value

The value of the lease when market rental for similar space is higher than rent paid under the lease. The value of a leasehold interest.

James Scott No Comments

Legal

Permitted by law.

James Scott No Comments

Legal Age

The age at which person may enter into binding contracts or commit other legal acts, in most provinces age 18. However, the age may be higher for certain acts, such as drinking, or lower for other acts, such as driving.

James Scott No Comments

Legal Assignment

The old courts of Law considered it wrong in principle to make one person another’s debtor without the debtor’s consent.

James Scott No Comments

Legal Cause

In tort law, when one invades some legally protected interest of another, the person causing such harm shall be responsible unless there is some defense to liability.