L

Lap Timer - a chronograph function that times segments of a race. At the end of a lap the push of a button stops the time and then returns to zero to time the next lap.

Leap Year - There are roughly 365.25 days in a year. That is an increase of ¼ of a day each year that is not shown on the calendar. After 4 years of additional ¼ days the calendar is ahead by 1 full day. A day is added to the calendar every 4 years to compensate for this additional day that has accumulated. The year that occurs every 4 years with the additional day (February 29) is called a LEAP YEAR.

L.E.D. -  

Light Emiting Diode. Used in digital displays on electronic quartz watches.

The time is displayed by pushing the crown of the watch. These were the first watches to use the current advances in modern electronic micro-circuitry.

Ligne - (pronounced leen) a French unit of measurement that is used to measure the thickness of a watch movement. A French inch (poule) is slightly larger than an English inch.
    English inch = 25.40 millimeters
    French inch = 27.07 millimeters
    A ligne is ½ of a French inch.
    1 ligne = 2.5583 millimeters or 0.0887 inches
 

Limited Edition - a watch style that has a limited number manufactured. The production of a watch may be limited to 25 or 100 or 1,000 or whatever number the manufacturer decides to use. Each watch is usually engraved showing in what sequence it was made.  e.g. 42/100 would be the 42nd watch made out of a total production of 100.
 

Liquid Crystal display - the time is displayed electronically by using a thin layer of liquid held between 2 plates, the top plate being transparent. 

L.N.I.B. - Like new in box 
 

Lugs (Horns) –  

 

Projections on the watch case.  
There is a spring bar between the 2 lugs 
that is used to fix the strap or bracelet.

Luminescence - to emit rays of light. A luminescent material is deposited on numbers and hands in order to read the time in the dark.