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Simple English definitions for legal terms

consolidation

Read a random definition: word of art

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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JumpySubsequentDolphin
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babycat
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m10
20:47
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JumpySubsequentDolphin
20:48
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JumpySubsequentDolphin
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JumpySubsequentDolphin
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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
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