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last in, first out

last in, first out : being or relating to a method of valuing inventories by which items from the last lot received are assumed to be sold first and all requisitions are priced at the cost...

last injurious exposure rule

last injurious exposure rule : a rule placing liability for workers' compensation on the last employer of a worker disabled as a result of injuries or conditions suffered under two or more successive employers

Last day of term

Last day of term. On the last day of each of the four terms the junior barrister present in every Court of law was entitled to make his motion the first, and so on, in order...

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Last resort

Last resort. A Court from which there is no appeal is called the Court of last resort.

Last Court

Last Court, a Court held by the twenty four jurats in the marshes of Kent, and summoned by the bailiffs, whereby orders are made to lay and levy taxes, impose penalties, etc., for the preservation of...

Last proximate act test

Last proximate act test, means a common law test for the crime of attempt, based on whether the defendant does the final act necessary to commit an offence (such as pulling the trigger of a gun,...

Last in, first out

Last in, first out, means an accounting method that assumes that the most recent purchases are sold or used first. Matching current costs against current revenues, Black's Law Dictionary, 7th Edn., p. 887.

Last heir

Last heir, he to whom lands came by escheat for want of lawful heirs-that is, in some cases the lord of whom the lands were held, but in others the sovereign, Bract. 1. 7, c. xvii....

joint-and-last-survivorship option

joint-and-last-survivorship option see option

Full wages last drawn

Full wages last drawn, is construed to mean wages that were being drawn by him at the time of termination of his employment because it would not take into account the rise in cost of living...

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