Latin for Lawyers

L ATIN FOR L AWYERS

LINEAGE [L. lineo, linare / to draw a line, to make straight] Descent in a direct line from a common predecessor. A group of persons who are descendants of a common ancestor. LINEAL [L. linea / a string, a straight line] A direct line of descent, as the line from father to son. Direct descent. Descent in a line from one generation directly to the next: grandfather, son, grandson, great-grandson, etc. Distinguished from collateral descent . LIQUID [L. liquare / to make liquid, liquify] Having the properties of a water-like substance. The condition of a business which has sufficient cash — and/or other assets quickly and easily convert ible to cash — to enable it to meet its obligations as they mature. Liquid assets are either cash or other assets quickly convertible to cash. LIQUIDATE [L. liquare / to liquify] To pay or settle an obligation in full. To convert a debtor’s assets to cash, and, if necessary, to identify his creditors and other persons with rights to the cash, and then to distribute the cash as the legal rights of all interested parties may determine. LIQUIDITY [L. liquare ] The measurement of the health of a business by reference to its ability to reduce its assets to cash — the greater and faster the ability, the more liquid the business. LIS A legal controversy; a law suit or action. Also, the subject of a law suit. LIS ALIBI PENDENS [L. lis + alibi / elsewhere, in another place + pendo, pendere / to hang down, be suspended, to exist in time] There is an action in another place; there’s another action pending. If there is an action pending in another jurisdiction between the same parties on the same issues, the court will refuse to entertain another action. Notice of the pending action may be raised by a party in his pleadings. LIS PENDENS [L. lis / a lawsuit + pendere / to be in progress] Notice that an action is pending. A statement to all that a court has before it a suit or action affecting the named parties, or a parcel of land, in which the court is being asked to determine or resolve a dispute set forth and described in the pleadings. The purpose of the statement is to give notice of the action to all and to bind purchasers or encumbrancers of any property involved in the action to the court’s decision. A notice of lis pendens or notice of pen dency is a document filed in a public record office which has the effect of

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