- glossary
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Glossary
L
Lapse
A lapse in the context of personal injury law typically refers to a discontinuation, often regarding insurance policies when a premium is not paid by the due date. It can also pertain to a legal right that ceases due to the failure to meet a requisite condition, potentially impacting claim viability.
Lawsuit
A lawsuit encompasses a legal action where a party seeks compensation for damages sustained, often resulting from negligence or intentional harm. In personal injury law, plaintiffs initiate lawsuits to procure remuneration for losses and injuries sustained due to another’s actions or inactions.
Letter of Protection
A letter of protection in personal injury cases is a document where an attorney assures payment of medical bills from the forthcoming settlement or judgment, enabling clients to receive necessary medical care while deferring payment until case resolution.
Liability
Liability refers to legal responsibility for one’s actions or omissions, particularly concerning negligence or infractions. In personal injury contexts, determining liability is pivotal for identifying who is accountable for injuries and consequently, obligated to compensate the injured party.
Liability Insurance
Liability insurance provides coverage for the policyholder’s legal responsibilities towards others' injuries or property damage, safeguarding financial stability by addressing the monetary concerns resultant from personal injury claims.
Liability Investigation
A liability investigation involves discerning responsibility for an incident in personal injury cases. It entails thorough exploration of evidence, eyewitness testimonies, and relevant documentation to ascertain who bears legal accountability for injuries sustained.
Liable
Being liable means bearing legal responsibility for damages, typically due to negligent or intentional actions. In personal injury matters, the liable party is obligated to compensate the injured individual for losses and damages incurred.
Libel
Libel involves publishing false statements that damage a person's reputation. It intersects with personal injury law under defamation, where the injured party may seek compensation for harm to reputation caused by such false statements.
Limitation of Risk
Limitation of risk refers to strategies or clauses implemented to mitigate financial exposure in potential loss scenarios, ensuring that potential payouts or liabilities, even in personal injury litigation, are financially manageable.
Litigant
A litigant is an individual or entity involved in a lawsuit, navigating through legal processes to either pursue compensation (plaintiff) or defend against claims (defendant) within the arena of personal injury litigation.
Litigation
Litigation involves pursuing a dispute through the court system, wherein personal injury litigation, the plaintiff seeks to prove negligence or fault to secure compensation for injuries and associated losses from the defendant.
Loss
Loss refers to a discernible detriment, often financially, physically, or emotionally, for which individuals in personal injury cases seek restitution to ameliorate the adverse impacts of such deficits.
Loss of Consortium
Loss of consortium pertains to the deprivation of family relationship benefits, such as companionship, due to injuries. It’s claimable in personal injury law when an injury adversely affects the relationship dynamics and respective benefits between family members.
Loss of Enjoyment of Life
Loss of enjoyment of life in personal injury contexts describes the diminished ability to enjoy life’s pleasures and activities due to sustained injuries, for which compensation might be sought to redress this non-economic damage.
Loss of Earnings Capacity
Loss of earnings capacity involves the reduced ability to earn income due to injuries sustained, where plaintiffs in personal injury cases may seek compensation to offset the diminished current and future earning potential.
Loss Ratio
Loss ratio refers to the ratio of claims paid to premiums earned within insurance contexts, directly impacting insurers in personal injury cases by denoting their financial stability and claim-paying ability.
Lump Sum Payment
A lump sum payment entails paying the entire settlement amount in one single payment, providing personal injury claimants with the entirety of their agreed-upon compensation in one transaction, opposed to structured settlements.