Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

consolidation

Read a random definition: codified

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
LSD+ is ad-free, with DMs, discounts, case briefs & more.