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LSDefine

Simple English definitions for legal terms

clearing

Read a random definition: under submission

A quick definition of clearing:

Clearing is a process where banks exchange checks and make sure that all accounts are balanced. It's like making sure that everyone has paid what they owe and received what they are owed. In maritime law, clearing means that a ship has followed all the rules and regulations before leaving port. This includes customs and health checks. It's like getting permission to leave. In movie theaters, clearing means that a movie can only be shown once in a certain area before a certain amount of time has passed. This gives each theater a chance to show the movie exclusively.

A more thorough explanation:

Definition: Clearing refers to the process of exchanging checks and balancing accounts in banking. In maritime law, it refers to the departure of a ship from port after complying with customs, health laws, and other local regulations.

  • When you deposit a check into your bank account, the bank will go through a clearing process to ensure that the check is valid and that the funds are available before crediting your account.
  • Before a ship can leave port, it must go through a clearing process to comply with customs, health laws, and other regulations. Once the ship has been cleared, it is allowed to depart.

These examples illustrate how clearing is a process that ensures that everything is in order before proceeding. In banking, clearing helps to prevent fraud and ensure that funds are available before they are credited to an account. In maritime law, clearing helps to ensure that ships comply with regulations and are safe to depart from port.

clear error | clearing account

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General chat about the legal profession.
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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
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.
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