Glossary

L

An obligation to respect the law. This obligation is not optional: people have a duty to respect the law. For example, the law says that parents have an obligation to care for their children.

Legislator

A person responsible for creating laws. In Canada, the legislators in the federal Parliament and the legislative assemblies of the provinces have this power.

Letter of good standing

A document provided by a parent organization confirming that one of its internal branches is part of the parent. This letter must be provided if the branch applies to become a registered charity. To learn more about what information must appear in the letter, consult the Canada Revenue Agency’s definition.

Letters patent

Official documents issued by the government confirming an incorporation. They are like a birth certificate for an incorporated organization. Letters patent contain key information about the organization, such as its official name, its purposes (also called “objects”), the names of its first directors and its official address.

Liabilities

Amounts owed, including bills to be paid, loans and mortgages.

Liquidator

A liquidator is a person (or people) named to distribute the property and debts of someone who has died to the people who will inherit. Liquidators are sometimes commonly called "executors".

Litigation

A legal conflict between 2 or more people.

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