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Simple English definitions for legal terms

consolidation

Read a random definition: failure-of-proof defense

A quick definition of consolidation:

Consolidation means bringing things together to make them one. This can happen in different ways. For example, in law, consolidation can mean combining different laws into one. In court, consolidation can mean combining two or more cases into one. In business, consolidation can mean merging two or more companies into one. The goal of consolidation is to make things simpler and more efficient.

A more thorough explanation:

Definition: Consolidation refers to the act or process of uniting or combining two or more things into one. It can refer to various contexts such as legislation, civil procedure, bankruptcy, and corporations.

  • Legislation: Consolidation of legislative provisions involves combining various laws that were previously scattered in different statutes into a single statutory measure. For example, a government may consolidate all the laws related to taxation into one comprehensive tax code.
  • Civil procedure: Consolidation of actions refers to the court-ordered unification of two or more legal cases involving the same parties and issues into a single action resulting in a single judgment or separate judgments. For instance, if two people file separate lawsuits against the same defendant for the same incident, the court may consolidate the cases to avoid duplicative proceedings.
  • Bankruptcy: Substantive consolidation involves merging two or more bankruptcy cases, usually pending against the same debtor or related debtors, into one estate for purposes of distributing the assets. This results in the two estates sharing assets and liabilities, and in the extinguishment of duplicate claims and claims between the debtors. For example, if two companies file for bankruptcy, and they are related, the court may consolidate their cases to avoid inefficiencies and ensure a fair distribution of assets.
  • Corporations: Consolidation of corporations refers to the unification of two or more companies by dissolving the existing ones and creating a single new corporation. This can be done through a merger or acquisition. For instance, if two companies in the same industry merge, they can consolidate their operations to reduce costs, increase efficiency, and gain a competitive advantage.

These examples illustrate how consolidation can be used in different contexts to achieve various goals such as simplification, efficiency, fairness, and growth.

consolidating statute | consolidation loan

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1:17
The heart indicates that it’s a good thing
Dkk
1:18
Okay sounds good. Yeah my cousin moved to London. Nothing there for him after 6 years and he moved back to New York.
Dkk
1:19
Great to visit, not great to stay imo.
1:19
London sucks and cyncial’s fake ginger is probably regretting it right now
1:19
So dark and rainy and I hate the way they talk
1:19
And their sense of humor
CynicalOops
1:19
Shes was from london so im not sure
CynicalOops
1:21
Dkk i do appreciate your transparency i really understand you better
Dkk
1:21
Europe seems off to me in general. I met a lot of weird europeans in Crypto.
1:21
Oh maybe not then. But that’s your fault for dating a girl from London in the first place
Dkk
1:21
@CynicalOops: lol maybe maybe
1:23
I always understood Dk like we developed in the womb together so this is not new to me
Dkk
1:28
Mhhh maybe
Dkk
1:29
Do I understand you?
CynicalOops
1:46
Si señor yo entiendo
Dkk
2:07
Bueno lol
Dkk
2:07
Jajajaja
CynicalOops
2:08
Latina milfs are on high alert tonight
Dkk
2:51
As they should be. Nah I aint doing shit till January. Holidays I never go out drinking and eating. Gotta take advantage of the fact you can get 5.5 lbs of mussels for $20 at costco rn.
so fuckin cold
my laptop feels like an icecube
shaquilleoatmeal
10:47
it was 8 degrees this morning when I went for a walk, up at 14 now but ive been waitin for this weather all year
shaquilleoatmeal
10:48
also wtf dkk? you say some pretty outta pocket shit sometimes that no one calls you out for
windyMagician
10:52
I think he gets away from it by being an oldhead
windyMagician
10:52
*with not from
shaquilleoatmeal
10:55
nah bulb and i don't say anythin that wild and we're considered oldheads
10:57
yeah but he’s the racist kind of old head and you’re not
10:58
it’s kinda like when your grandpa with alzheimer’s starts saying some crazy shit
windyMagician
10:59
grandpa be like "back in my day I smashed so many latina milfs"
shaquilleoatmeal
11:04
smh
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