Statutory Definitions

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Leather Industry (R181/2010) means a manufacturing activity inclusive of converting rawhide and raw skin into a final product and manufacturing leather products
Leather Products (R181/2010) means shoes, bags, belts and gloves made from leather, canvass, plastics or artificial leather, or apparels made from leather and the like
Leave (R157/2008) means various types of leave to be given to an employee with or without pay
(A) Legacy by universal title (Civ. C. Art. 912) is a disposition whereby the testator calls one or more persons to receive the full ownership or the bare owner-ship of one whole or of a portion of the property
Legal arrangement (P780/2013) means an express trust or other similar arrangement
Legal cadastre
(R251/2011) means a system of assuring the possessory rights on a parcel of land by collecting and organizing land information and records pertinent to such land
(818/2014) means an updated landholding information system containing a record of the rights, restrictions and responsibilities on a defined legal boundary for each landholding demarcated as parcel on map
Legal Metrology (R194/2010) means verification of measurement, measurement units, measurement instruments and measurement methods performed by law enforcement bodies in accordance with requirements specified by law
Legal representative (Civ. P.C. Art. 3) shall mean any person who in law represents a person under disability or the estate of a deceased person
Less developed Regions (R103/2004) means Regional States of Afar, Somali, Gambela and Benshangul Gumuz and shall include pastoral areas in Oromia and Southern Nations Nationalities and People’s Regions
Lessee (P103/98) means a person who, under a lease agreement, obtains capital goods from a lessor and has the right to use the capital goods, against payment of rent for an agreed period of time
Lessor (P103/98) means a person who, under a lease agreement, provides to a lessee the right to use the capital goods in return for rent for an agreed period of time
License area (P678/2010) means any area which is the subject of a license
Licensed Customs Warehouse (P24/97) Shal1mean a general or private Customs Warehouse established by the approval of Customs Authority for the deposit of dutiable goods
License Contract (P501/06) means a contract whereby the owner grants to any other person to use a trademark for all or part of goods or services in respect of which the trademark is registered
Life insurance (P746/2012) means a contract whereby the insurer undertakes, against the payment of premium, to pay to the insured or to any beneficiary a specified sum on certain conditions dependent upon the life or death of the insured
(A) Life insurance (Com.C. Art 691) is a contract whereby the insurer undertakes against the payment of one or more premiums to pay to the subscriber or to the beneficiary a specified sum on certain conditions dependent upon the life or death of the subscriber or third party insured
Life saving emergency treatment (R299/2013) means a service provided by any person or trained professional to a patient who has encountered imminent and life threatening disease or injury until the patient has got access to regular health care services
Lifetime Approach
(R17/97) means the effective management and control of public property by taking into account all associated activities and costs, namely, planning, acquisition, receipt, use, maintenance, consumption or disposal or deletion of public property
(P649/09) mean a system of effective management and control of public property which takes in to account all associated activities and costs, namely, planning, acquisition, receipt, use maintenance, consumption or disposal or deletion of public property
Light trailer (P600/08) means any trailer having a maximum loaded weight not exceeding 750 kilograms
Liquid assets (P591/08) mean in relation to financial institutions include:
a) cash;
b) deposits in the National Bank and other domestic and foreign banks acceptable by the National Bank;
c) assets readily convertible into cash expressed and payable in Birr or foreign currency acceptable by the National Bank;
d) such other assets as the National Bank may from time to time declare liquid assets
Limited common elements (P370/03) means common elements designated for the exclusive use of only one or some of the units
Litter (P513/07) means anything that may or may not have any value, including glass, metal, cigarette butts, paper fabric, food, garden remnants or other materials that in any way spoil the aesthetics of the place or make it unhygienic
Live animal (P819/2014) includes cattle, sheep, goat, camel and other animals to be designated as such by the Ministry [Ministry of Trade]
Live animals marketing (P819/2014) means a process that includes selling, buying and transporting of live animals, feedlot letting and other marketing related activities
P488/2006) means any domestic or domesticated animal such as bovine, porcine, caprine, equine, sheep poultry, and bees raised for food or for use in the production of food
Loan or advance (P592/08) means any financial assets of a bank arising from a commitment to advance funds by a bank to a person that is conditioned on the obligation of the person to repay the funds, either on a specified date or dates or on demand, usually with interest, or from indirect advances such as unplanned overdrafts, participation in loan syndication and the purchase of loans from another lender; and includes a contractual obligation of a bank to advance funds to or on behalf of a person’s claim evidenced by a lease financing transaction in which the bank is the lessor, and an overdraft facility to be funded by a bank on behalf of a person
(A) Loan for use or free loan (Civ.C. Art 2767) is a contract whereby one party, the lender, undertakes to transfer a chattel to the other party, the borrower, for gratuitous use

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