Glossary

Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Job: A position of employment with specific duties and compensation. (See Career.)

Keyloggers�: A type of software or spyware that records every key you hit when you are typing instant messages, e-mail, and or just using your keyboard. Some keylogger programs will also record any e-mail addresses you use and Web site URLs you visit.

Lease: A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement, such as a landlord and tenant.

Lemon Laws: Laws that protect consumers from substandard or defective products.

Liability: An actual or potential financial obligation.

Liability, Bodily Injury: An insurance policy that pays for injuries caused to other individuals in the event of a motor vehicle accident.

Liability, Bodily Injury: An insurance policy that pays for injuries caused to other individuals in the event of a motor vehicle accident.

Liability, Property Damage: An insurance policy which pays for damage caused to the property of others, including cars, as a result of a motor vehicle accident. Property damage coverage is often mandatory.

Liability, Property Damage: An insurance policy which pays for damage caused to the property of others, including cars, as a result of a motor vehicle accident. Property damage coverage is often mandatory.

Liability, Umbrella: A type of liability insurance available to individuals and companies protecting them against claims above and beyond the amount covered by their primary policies or for claims not currently covered.

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