Business, Legal & Accounting Glossary
n. the crime of theft of another’s property (including money) over a certain value (for example, $500), as distinguished from petty (or petit) larceny in which the value is below the grand larceny limit. Some states only recognize the crime of larceny, but draw the line between a felony (punishable by state prison time) and a misdemeanour (local jail and/or fine) based on the value of the loot.
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This glossary post was last updated: 28th April, 2020 | 0 Views.