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Economy, and the Public Accounts: Letter

Letter or Power of Attorney, a deed authorizing one person to act for another. Letter of Credit, a letter authorizing the person addressed to advance money or furnish goods to another, on the credit of the writer. Letter of Marque, a license authorizing a ship to act as a privateer. Letters Patent, an instrument or deed under the crown seal, enabling a person to do or enjoy that which he otherwise could not.

Levari Facias, Eng., a writ for levying a sum upon the effects of a defendant. Liabilities, a comprehensive term for all the pecuniary obligations, whether director indirect, of an individual or company.

Lien, a right to retain property legitimately in one's possession until a debt shall be paid, or an engagement performed, the right of exaction of which is in the possessor. Limitation, in commercial law, the expiry of a right through lapse of time. In England actions upon bills, or of trover, detinue, debt upon simple contract, etc., are limited to six years; those upon bonds, deeds, etc., to 20 years. Log Book, a ship's journal.

Mandate, Scot, a contract empowering a person to manage any business for another without hire; now almost superseded by Factory, or agency for hire. Manifest, the specification of a ship's cargo and passengers. Meditatio Fugæ Warrant, Scot., a warrant to imprison a debtor, competent on proof of his intention to abscond from Scotland, analogous to the English writ ne exeat regno.

Mint, the place where money is coined.

Mintage, the duty paid for coinage.

Misfeasance, Eng., a misdeed.

Money, coin-usually gold, silver, or copper, stamped by public authority. Monopoly, the exclusive privilege of dealing in or of making any particular commodity. Mont de Piété, a benevolent loan institution.

Mortgage, in England, a pledge of lands or tenements by a debtor or mortgager, for money borrowed from the creditor or mortgagee, to be the property of the creditor for ever if the money be not paid at the time agreed upon; but which, by legal construction, always remains liable to the equity of redemption, unless precluded by a suit in equity. A mortgage of personal goods is termed a conditional bill of sale. Multiplepoinding, Scot., or double distress, an action chiefly used for settling competitions for a movable, analogous to the English bill of interpleader. Ne Exeat Regno, Eng., a writ to restrain a person from leaving the kingdom without license.

Negotiable Instrument, a term applied to a document where the legal right to the property secured by it is transferable from one person to another by its delivery. Nisi Prius, Eng., a commission to justices of assize empowering them to try issues of fact by jury.

Nonfeasance, Eng., an offence of omission.

Noting of a Bill, the notarial marking and registration preliminary to the extension of a protest.

Obligations (Fr.), annuity bonds reimbursable by lot. Omnium, a Stock Exchange term for the whole of the stocks of which a government loan consists when two or more descriptions-as consols and terminable annuities -are given for each £100 in money.