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LSDefine
Simple English definitions for legal terms
live storage
Read a random definition: forward-rate agreement
A quick definition of live storage:
Live storage refers to the storage of cars that are being used on a daily basis, as opposed to cars that are stored away for a long period of time. This means that the cars are kept in a garage or other storage facility while they are not being driven, but are regularly taken out and used. The responsibility of the garage owner may differ depending on whether a car is in live or dead storage. Dead storage refers to cars that are not being used and are stored away for a long period of time.
A more thorough explanation:
Live Storage
Live storage refers to the storage of vehicles that are actively used on a daily basis, as opposed to vehicles that are stored for an extended period of time. The responsibility of a garage owner may differ depending on whether a vehicle is in live or dead storage.
- A car parked in a driveway and used for daily commuting is an example of live storage.
- A company's fleet of delivery trucks that are used regularly for business purposes are also considered to be in live storage.
These examples illustrate the concept of live storage as vehicles that are in active use and require regular maintenance and upkeep.