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2.
A loss, whether it be financial, emotional, physical, etc.
"Damn I just failed my test. That's the L."

"Now that my car was stolen, I'm just going to have to take the L on that cross-country road trip."
by DDdaza May 05, 2007
 
1.
An abbreviation for the NBA. From "The League"
"Golden State is the nicest team in the L."
by BigNasty301 January 27, 2008
 
3.
An Establishment that sells alcoholic beverages
I'm gonna run to THE L and gets me a 40
by jack bone February 13, 2008
 
4.
a headlock,named after the fact that it looks like an uppercase letter L
Tim:Jon,I fucked your baby sister last night
Jon:Shut your mouth before I put you in the L
Tim:OK,whatever
Jon(throwing him in the L):You in the L now son!
by Bigg Joe October 10, 2007