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LSDefine

Simple English definitions for legal terms

cap

Read a random definition: fiaunt

A quick definition of cap:

A cap is a limit on how much money someone can earn, pay, or receive. For example, a loan may have a maximum interest rate, a business may set a cap on how much they charge loyal customers, and the government may limit the amount of assets someone can have to receive welfare benefits.

A more thorough explanation:

A cap is a limit set on something like income, interest, fees, loans, or benefits. It means that there is a maximum amount that can be earned, charged, borrowed, or received.

  • A loan can have different interest rates depending on the market, but there is a cap rate of interest that cannot be exceeded. This means that the borrower will not have to pay more than a certain amount of interest on the loan.
  • Businesses can set a cap on maintenance fees for frequent customers. This means that no matter how many times a customer uses their services, they will not have to pay more than a certain amount for maintenance.
  • Congress sets a cap on total assets an individual can own to be eligible for welfare benefits like supplemental security income or SNAP. This means that if someone owns more than the set amount, they will not be eligible for these benefits.

These examples illustrate how a cap works by setting a limit on something. It ensures that there is a maximum amount that can be earned, charged, borrowed, or received, which can be helpful in preventing excessive fees or benefits to those who do not qualify.

canons of construction | cap and trade

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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