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Simple English definitions for legal terms

actual market value

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A quick definition of actual market value:

Actual market value refers to the amount of money that something is worth in a fair and open market. It is the price that a buyer is willing to pay and a seller is willing to accept for something in an arm's-length transaction. This value can be influenced by factors such as supply and demand, the condition of the item, and the opinions of buyers and sellers. It is important to determine the actual market value of something for purposes such as insurance, taxation, and buying and selling goods and services.

A more thorough explanation:

Actual market value refers to the amount of money that something can command in an exchange. It is the price that a buyer is willing to pay and a seller is willing to accept in an arm's-length transaction. Actual market value is also known as fair market value.

For example, if a person wants to sell their car, the actual market value is the price that a buyer is willing to pay for it. If the seller and buyer agree on a price, then that is the actual market value of the car.

In insurance, actual market value is used to determine the replacement cost of an item minus normal depreciation. For example, if a person's car is stolen and they have insurance, the insurance company will determine the actual market value of the car at the time it was stolen and pay the policyholder that amount.

actual malice | actual physical control

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General chat about the legal profession.
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JumpySubsequentDolphin
10:40
@Mostlylegal: oh oops hehe
BulbasaurNoLikeCardio
10:40
@m10: most of PSYOP are guys who failed SFAS and Ranger so much so they can't go back and think being SOCOM makes them SF. I loved the cultural side of it all, going to embassies and running influence operations. Doing KLEs and training with foreign militaries was amazing. Learned so much about the world by talking to those who live all over it. Then got lucky and worked with a Marine HIT overseas and would tag along when they kidnapped people to do some stuff lol The rest of the time was a lot of reports and KLEs
babycat
10:40
t4 is a concept being perpetuated by Big Chicago
soap
10:41
Chicago rejected me in undergrad, so I have beef
shaquilleoatmeal
10:41
Was there an hls ii wave yesterday?? Didn’t go online at all and feel out of the loop lmfao
m10
10:42
@BulbasaurNoLikeCardio: Did not know that but it makes sense. That sounds like a cool career. I would have liked to have done that too. I really would have just liked to have gone OCONUS once.
m10
10:44
I was talking to this 88H in a bar last weekend and he had some wild story about being interrogated by the FBI and CIA and shit to get a top-secret clearance or something so he could drive a forklift around Europe, Korea, and Africa. It sounded like a bunch of bullshit to me but do you know if something like that could be true?
babycat
10:45
@shaquilleoatmeal: yeah so I’ve heard
jackfrost11770
10:46
i don't know any of this military talk but i was going to be a combat medic or trauma surgeon for so long before i went this track lol, so my only exposure is seriously looking and visiting places like west point for recruitment lol. i speak russian so everyone always told me that raises your chances at those places lol
jackfrost11770
10:46
my brother is a combat medic too
BulbasaurNoLikeCardio
10:46
@m10: was a great career, the main job is being a cultural expert building rapport and relationships with foreign nationals, militaries and even people hostile to make the area safer and at times bring in the ODAs or three letter guys to train, arm and fund them to aid in their(our) cause. OCONUS is great but not necessary, I only did two real deployments but a lot of missions to places. That is all 110% BS. I have a TS-SCI, worked with federal agencies they do nothing crazy like that.
shaquilleoatmeal
10:47
Damn - 3rd invite missed smh no love for me from hls
m10
10:49
@jackfrost11770: That's like a huge pitfall. People say it's easy to get into like med school or law school through West Point and it is not at all. Yeah, Russian would make you very valuable to them. You will see West Point people in law school but that's very few compared to how many went through the prelaw program there. Best just to enlist and become a combat medic. I've seen like 4 of em here anyway so you didn't really miss anything by going straight to law school.
BulbasaurNoLikeCardio
10:49
I "speak" Dutch but never used it after training back in 2012. Russian is great if you can get into INTEL but outside of that they would just assign you a lot of NATO roles if you go EUCOM. If you go Jag it may score you a nice job in Europe but at this point with the lack of benefits the military would give you just go state department as an attorney and you will travel the world.
m10
10:50
@BulbasaurNoLikeCardio: Oh yeah, I get that. My buddy just got back from Jordan and he gained like 25 lbs there just being a fat ass doordashing for 50 cents a delivery.
glovediedthisishismom
10:50
https://youtu.be/BM-Yf-DXhMM?si=dtiskk_90ckDOjwo
jackfrost11770
10:50
yeah haha i mean i was like 15 so i didn't know anything, and yeah that makes complete sense. my main thing was that i knew i didn't want to go to medical school and i didn't want to straight out enlist so that kinda closed the door on that
glovediedthisishismom
10:50
please listen
m10
10:51
@BulbasaurNoLikeCardio: indeed, it could but I could also just like visit on my own time. Though I have met like 10 or so JAG officers that got an Italian or French or Spanish wife while over in Europe so that is cool.
jackfrost11770
10:52
but i'd love to talk to you about that sometime if that's alright because i've been seriously considering INTEL and other similar roles but i know quite literally nothing about it and don't know where to start researching
m10
10:52
@glovediedthisishismom: oh my god that guy is a psychopath. Tjhat guy scares me.
m10
10:52
@jackfrost11770: Best bet if going law route is Law School to JAG to either Mead or Gordon imo then.
m10
10:53
NSA shit to start. If you can go straight into a GS job then you should go for it.
m10
10:54
https://www.usajobs.gov/Search?k=attorney
BulbasaurNoLikeCardio
10:54
@jackfrost11770: I have my undergrad in Intelligence and Terrorism and worked a good bit in the IC so I can answer some broad questions but not many direct because the nature of the field. If you want to go to law school and get your JD it really depends what intel work you would want to do and where you want to live.
jackfrost11770
10:56
thank you!! yeah i also know they always need STEM grads ofc, so i know i have that going for me as well
m10
10:58
Fuck now that Gary Gensler is resigning, this is like a dream job for me. Would love to do securities: https://www.usajobs.gov/job/819640900
m10
10:58
Best job on the wbesite rn.
BulbasaurNoLikeCardio
11:00
If you do it from the attorney side you will be skirting the left and right limits of laws like the NDAA to conduct domestic espionage or how to kidnap or spy on people in foreign countries without committing war/international crimes. JAG would be very very general and location based. At one unit you can be the personal attorney to a commander not even having your own office or desk, next one you can be leading the prosecution of terrorist and rapist and the next one be the legal OK for drone striking people. It is a very varied job you have little control over.
Dkk
11:01
Lmfao, so true.
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