Locus standi-It means the legal standing or the right of a person or entity to bring a case or participate in a legal proceeding, typically based on their direct interest or connection to the matter in question Locus :- place or position  Standi :- to stand Example...


Liquidation: The sale of a debtor's property with the proceeds to be used for the benefit of creditors. (Section 53 of Companies Act)  


Lien: A charge on specific property that is designed to secure payment of a debt or performance of an obligation. (Section 171 of Indian Contract Act)