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Simple English definitions for legal terms

assumpsit

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A quick definition of assumpsit:

Assumpsit: A promise made by one person to do something or pay something to another person, either through an express or implied agreement. If this promise is broken, the person who made the promise can be sued in court for damages. There are different types of assumpsit, including general assumpsit (based on an implied promise to pay a debt) and special assumpsit (based on a breach of an express contract). Indebitatus assumpsit is a historical form of action used to enforce an oral debt, but it has been abolished in some countries.

A more thorough explanation:

Definition: Assumpsit is a legal term that refers to an express or implied promise, not under seal, by which one person undertakes to do some act or pay something to another. It is also a common-law action for breach of such a promise or for breach of a contract.

An example of an assumpsit is when a person promises to pay a debt to another person.
Another example is when a person promises to do a certain act for another person.
If the person who made the promise fails to fulfill it, the other person can bring an assumpsit action against them.

These examples illustrate how assumpsit is used in legal situations where one person makes a promise to another person and fails to fulfill it. The person who made the promise can be held legally responsible for their breach of contract or promise.

assume or reject | assumption clause

General

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[] starfishies

11:58

thats like a month in a major city lol

triplethread

11:58

i live with two roomies so its cheaper

windyMagician

11:58

gas is like 3.84 rn which makes no sense bc we make it

[] texaslawhopefully

11:58

Wait windy you get a stipend just for living in Alaska

KnowledgeableRitzyWasp

11:58

have you ever seen a wendigo

KnowledgeableRitzyWasp

11:58

how do you deal with the wendigo infestation

windyMagician

11:59

@texaslawhopefully: yep! it’s called the permanent fund dividend

[] texaslawhopefully

12:00

Oh wow that’s very interesting. I’m guessing it’s fundable because so few people live there

windyMagician

12:01

no, it’s a sovereign wealth fund from the incredible amount of oil royalties Alaska has collected over the years

[] texaslawhopefully

12:02

Right, that makes sense, but I assume if more people lived there it wouldn’t be sustainable for dividend payments to go out?

windyMagician

12:02

Alaska’s population used to be bigger and the dividend payment was also bigger. it all depends on the returns of the fund in a given year. It’s enshrined in the state constitution so it would be incredibly difficult to get rid of it even if it was $1

windyMagician

12:03

also, postsecondary education is a qualifying absence so i can still get my dividend even while in law school

[] texaslawhopefully

12:04

Ahh I see. And so it applies to any resident even ones who are out of state at the moment?

windyMagician

12:05

you must maintain ties to the state, come back for at least 72 hours a year, have intent to return to Alaska, and not establish residency in any other state

windyMagician

12:05

and be on a qualifying absence. military and education is okay, being out of the state working is not

babycat

12:05

so if you went to a state school you wouldn’t establish residency there to be in state?

BulbasaurNoLikeCardio

12:06

@KnowledgeableRitzyWasp: if FO taught me anything you mag dump

babycat

12:06

I was wondering about that too bc I would prefer to maintain my current residency

windyMagician

12:08

@babycat: correct. accepting in state tuition in another state is actually a really common and controversial reason that ppl get denied dividends

BulbasaurNoLikeCardio

12:08

Being military I moved ALOT and would establish residency in the states that had no income tax or other tax benefits. I would imagine switching to instate tuition would save significant money

info-man

12:08

i maintained my FL residency but the only advantage is that i get reduced price theme park tickets

[] texaslawhopefully

12:08

I think it depends. For a lot of the top schools, the diff between in state and out of state tuition is just a few grand

babycat

12:11

I have a non-financial interest in maintaining residency but might consider it if it’s a significant amount of money

LyricalLikeDragon

12:12

For a lot of schools I've seen it can be like 10k/year

LyricalLikeDragon

12:12

For me that's p significant

llama

12:12

in the event drumpf does indeed 'drill baby drill' I would wager Windy will get a better dividend years following this one

BulbasaurNoLikeCardio

12:12

$30k in debt with interest is a fat chunk of change

[] texaslawhopefully

12:13

@LyricalLikeDragon: oh yeah, that’s fair. I just meant for schools like UVA, Michigan, etc it’s literally like a 3k difference which considering it’d take a year to establish residency, doesn’t seem worth it

BulbasaurNoLikeCardio

12:15

I honestly feel lucky to have my GI Bill, if I could I would adopt all of you so you can get a monthly stipend while in school too

[] texaslawhopefully

12:17

Yeah, that is a pretty sweet fucking deal

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