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Simple English definitions for legal terms

deductis debitis

Read a random definition: single-name paper

A quick definition of deductis debitis:

Term: deductis debitis

Definition: Deductis debitis is a Latin term that means "the debts being deducted." In history, before determining the value of an estate, all debts had to be subtracted from the total amount. This was necessary to accurately assess the true value of the estate.

A more thorough explanation:

deductis debitis

When calculating an estate, deductis debitis means that any debts owed by the estate are subtracted from the total value before determining what is left over.

For example, if someone passes away and their estate is worth $100,000 but they owe $20,000 in debts, deductis debitis would mean that the debts are subtracted from the total value, leaving $80,000 as the remaining value of the estate.

Another example would be if a business is being sold and it has outstanding debts. The debts would need to be deducted from the sale price to determine the actual profit made from the sale.

These examples illustrate how deductis debitis is used to ensure that debts are taken into account when determining the true value of an estate or business.

deduction in respect of a decedent | de ea re ita censuere

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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