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Simple English definitions for legal terms

car trust certificate

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A quick definition of car trust certificate:

Term: Car Trust Certificate

Definition: A car trust certificate is a type of security that is typically issued by a railroad company to finance the purchase of new equipment. The certificate is held by a trustee until the note has been paid off, and during this time, the title to the equipment is also held by the trustee. Essentially, it is a way for a company to borrow money to buy equipment while using that equipment as collateral.

A more thorough explanation:

Definition: A car trust certificate, also known as an equipment trust certificate, is a type of security that is typically issued by a railroad company to finance the purchase of new equipment. The certificate represents a debt obligation and is backed by the equipment itself. The title to the equipment is held by a trustee until the certificate has been fully paid off.

Example: For example, if a railroad company needs to purchase new locomotives, it may issue car trust certificates to investors to raise the necessary funds. The investors would then receive regular interest payments until the certificate matures and the principal is repaid.

Explanation: The example illustrates how a car trust certificate works in practice. The railroad company is able to finance the purchase of new equipment without having to use its own capital, while investors are able to earn a return on their investment. The equipment itself serves as collateral for the certificate, providing security for investors in case the railroad company defaults on its payments.

carte blanche | cartulary

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9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
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