Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contingent debt

Read a random definition: juramentum

A quick definition of contingent debt:

Contingent debt is a type of debt that is not fixed yet, but it may become fixed in the future if a certain event happens. For example, if a company promises to pay a bonus to its employees if it reaches a certain profit level, that bonus is a contingent debt until the company actually achieves that profit level. It's like a "maybe debt" that depends on something happening first.

A more thorough explanation:

Contingent debt is a type of debt that is not currently fixed, but may become fixed in the future if a certain event occurs. For example, if a company agrees to pay a bonus to an employee if they meet certain performance goals, that bonus would be considered a contingent debt until the goals are met.

Another example of contingent debt is a loan that is only repayable if a certain event occurs, such as the sale of a property. Until the property is sold, the loan is considered a contingent debt.

Contingent debt is different from other types of debt, such as fixed debt, which has a set repayment schedule and interest rate. With contingent debt, the terms of the debt are not yet determined, and may depend on future events.

contingent claim | contingent demand

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
12:01
LOL
Dkk
12:02
Just part of the culture.
BulbasaurNoLikeCardio
12:04
I wish that wearing a mask when sick stuck around as an okay thing like it is in the rest of the world, not all of us have enough sick days to be ditching work.
Dkk
12:04
Unless its like an N95 i dont think it will really do anything
12:04
there's even a mask ban in some places. altho one of my coworkers wears a mask anyway despite customers being rude to her about it
12:05
good morning
12:05
why does umiami ask "Are you applying, or have you applied, to other law schools? If so, please list them."
BulbasaurNoLikeCardio
12:05
One manager came in sick wearing a mask, got roasted and stopped wearing it that day. The entire office has been cycling sickness for two weeks now. It may not be super effective but it may help in slowing the spread during meetings when we have to be so close
12:05
am i the only one who has never gotten my status checker to work on here?
BulbasaurNoLikeCardio
12:06
@ChowieBean: want to see what schools they share an applicant pool with, think it is all data harvesting stuff no a +/- for the applicant
12:06
ok good cuz idk whether i wanna tell them or not
12:06
thanks bulbasaur
12:08
not to be that guy again but berkeley person/applicant id is back and Shiny New Logo
be that guy
EW THE NEW LOGO IS SO UGLY
WTF
12:09
need to send in my berkeley app rawwwww
BulbasaurNoLikeCardio
12:09
@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.
BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
LSD+ is ad-free, with DMs, discounts, case briefs & more.