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LSDefine

Simple English definitions for legal terms

consolidation

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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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ollie you need better stats than that to go to harvard :(
lilypadfrog
9:44
uchicago famously hates low gpas
GreyCeaselessMammoth
9:44
olliewillgotoUpenn
GreyCeaselessMammoth
9:44
i think he has good chances there
upenn famously hates high lsats
GreyCeaselessMammoth
9:45
ollie blueprint
cumsock
9:45
do you think about the days when we sat down smoking wine and drinking haze
PuppyBot
9:48
morninh
cumsock
9:48
i wanna quit my jorb
cumsock
9:49
and ride the rails
@cumsock: same and not cause it sucks, I love who I work with/for and it is super easy but I am trying to save a lot of LS so I can ball out while unemployed
How much is everyone trying to save up for when they get to school?
shaquilleoatmeal
9:51
@PuppyBot: tripppp, u were heavy on my mind last night after the bs in the chat
cumsock
9:51
i plan to be the most frugal mf alive in school
cumsock
9:52
paint chips for dinner
cumsock
9:52
thats what i always eat tho
lilypadfrog
9:52
glove do you want to go dumpster diving with me
cumsock
9:52
yea thats where all the good snacks are
cumsock
9:52
like plastic bags
lilypadfrog
9:53
😋😋😋😋
[] starfishies
9:53
@BulbasaurNoLikeCardio: i didn't think about this until it was too late lol i'll be lucky to save like 7k if that
shaquilleoatmeal
9:54
@BulbasaurNoLikeCardio: saving enough to have mortgage +bills for the first 2 years of law school, figured i can work again after the 2nd year but at least ill give myself the flexibility to focus on school and not bills. A little to the side because life happens and sometimes u need to prepared for hitting rock bottom
I am trying to be pretty frugal now, looked up the cost to have PODs move my shit and I am like fuck that is a lot. I am trying to squirrel half my monthly income away so I can have a fat amount of cushion
PuppyBot
9:54
@shaquilleoatmeal: how sweet
PuppyBot
9:55
i need to make my matcha
cumsock
9:55
we just need one parlay
I think my biggest stress will be two mortgages until my current place sells.
shaquilleoatmeal
9:56
@BulbasaurNoLikeCardio: yea 2 is no joke, and diapers cost just as much as 1 mortgage lmao
diapers are nothing... fucking formula cost and you gotta stock pile because the random shortages
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