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LSDefine

Simple English definitions for legal terms

amortize

Read a random definition: in praemissorum fidem

A quick definition of amortize:

Amortize: To pay off a debt slowly over time, usually by making regular payments. This helps to gradually reduce the amount owed until it is fully paid off. It can also refer to giving land to a group that will never die, like a church or organization, so that it can be used forever without being inherited or taken away.

A more thorough explanation:

Definition: To gradually pay off a debt, often by making regular payments over time.

Example 1: John took out a loan to buy a car. He agreed to amortize the loan over five years by making monthly payments. Each payment included a portion of the principal (the amount he borrowed) and interest (the cost of borrowing the money).

Example 2: The company decided to amortize the cost of a new building over 20 years. This meant that they would gradually pay off the cost of the building over time, rather than paying for it all at once.

Example 3: In the past, some people would give land to a church or other organization in mortmain. This meant that the land would be held by the organization forever and could not be sold or inherited. However, this practice is no longer allowed in many places.

Explanation: Amortizing a debt means paying it off gradually over time, rather than all at once. This is often done by making regular payments that include both the principal (the amount borrowed) and interest (the cost of borrowing the money). Example 3 shows how the related term "mortmain" was used in the past to describe the practice of giving land to a church or other organization in perpetuity. This is no longer allowed in many places because it can tie up land and prevent it from being used for other purposes.

amortization schedule | amortized loan

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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