Letter of Advice—A letter giving notice of some act in which the one receiving the advice has an interest—as making a shipment, notice of draft, etc.
Letter of Credit—A letter which authorizes the receiving, by the holder, of credit to a stated amount. Principally used by travelers to secure credit from foreign bankers.
Liabilities—The obligations or debts of a firm, corporation, or individual.
License—Permission, usually granted by a municipality, to conduct a specified business.
Liquidation—The closing-out of a business or an estate.
Loss and Gain—The amount of profits or losses of a business.
Maker—One who signs a note.
Manifest—A list or schedule of the articles in a ship's cargo, or of the goods comprising a shipment.
