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LSDefine

Simple English definitions for legal terms

credit

Read a random definition: patronage

A quick definition of credit:

Credit: When someone lets you borrow money or buy something now and pay for it later, that's called credit. It's like getting a loan, but instead of going to a bank, you're borrowing from a person or a company. There are two types of credit: business credit, which is for companies, and consumer credit, which is for people like you and me. When you use credit, you have to pay it back with interest, which is like a fee for borrowing the money.

A more thorough explanation:

Credit is when a creditor gives an applicant the right to delay paying back a debt, borrow money and delay paying it back, or buy something and delay paying for it.

  • Business credit: This is when a business borrows money for business purposes, like buying inventory or equipment.
  • Consumer credit: This is when a person borrows money for personal reasons, like buying a car or paying for college.

In accounting, credit is a type of debt. It is recorded on the right-hand side of the balance sheet and can either decrease the value of an asset or increase the amount of capital, liability, or revenue.

For example, if a person uses a credit card to buy a $100 item, they have borrowed $100 and will need to pay it back later with interest. This is an example of consumer credit. In accounting, if a company borrows money from a bank, the amount borrowed would be recorded as a liability on the balance sheet, which is an example of credit.

credible witness | credit bureau

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m10
20:42
Get the ones that are dressed up then!
@JumpySubsequentDolphin: LITERALLY I also just applied to work at garage cuz 50% EMPLOYEE DISCOUNT
m10
20:43
Or legacy collection v1
JumpySubsequentDolphin
20:43
@SplitterusClitterus: GARAGE JEANS FIT ME SO WEIRDLY WHICH SUCKS BC THEYRE SO CUTE
m10
20:43
The cool thing about V2 was it was an infinitely generating collection so they would have never sold out but they ended it early cus of the bear market.
@JumpySubsequentDolphin: NAURRR i need to try them on to see. ive never owned anything from them exceot maybe a tank in middle school?? but ive been a longtime lurker/windowshopper/fan
JumpySubsequentDolphin
20:45
SPLITTY if their jeans fit on my thighs they’re too big on my waist!!! it’s so frustrating
NOOO THEIR WHITE GIRL JEANS actually idk why im surprised
THEYRE**** THAT WAS AUTOCORREXT I SWEAR
babycat
20:46
@m10: infinitely generating means it comes up with new pictures? or new copies of the same pictures?
JumpySubsequentDolphin
20:46
if you’re the slightest bit curvy they are so obnoxious. me and my Abercrombie curve love’s are good together
SHUT UP I LOVE ABERCROMBIE JEANS
m10
20:47
Did y'all see this from ararara last night? https://studicata.com/case-briefs/all/
THOSE FIT SOO GOOD. i desperately need new jeans tho i ahvent gone shopping in millennia so a discount would come in clutch
JumpySubsequentDolphin
20:48
I got these jeans from re/done on a crazy sale and I love them BYT RHEY HAVE FIVE BUTTONS
JumpySubsequentDolphin
20:48
I DIDNT REALIZE WHEJ I BOUGHT THEM BC THEYRE HIDDEN. LIKE INSTEAD OF A ZIPPER THEYREBALL BUTTONS
JumpySubsequentDolphin
20:48
what if I have to pee.
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
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
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