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LSDefine

Simple English definitions for legal terms

demonetization

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A quick definition of demonetization:

Term: DEMONETIZATION

Definition: Demonetization means that a metal that was used as money is not used anymore. It is like taking away the value of that metal as money. For example, in the United States, gold was demonetized, which means it was not used as money anymore.

A more thorough explanation:

Definition: Demonetization refers to the act of withdrawing the status of legal tender from a currency unit or ceasing to use a particular metal as money.

Example: In 2016, the Indian government demonetized all ₹500 and ₹1,000 banknotes, which accounted for 86% of the country's cash in circulation. This move was aimed at curbing corruption, black money, and counterfeit currency.

Explanation: The example illustrates how demonetization involves the discontinuation of a particular currency unit as a legal tender. In this case, the Indian government withdrew the status of legal tender from ₹500 and ₹1,000 banknotes, rendering them useless for transactions. This move aimed to tackle issues such as corruption, black money, and counterfeit currency, which were prevalent in the country's economy.

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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