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LSDefine

Simple English definitions for legal terms

flat money

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A quick definition of flat money:

Flat money is a type of money that is not backed by gold or silver. It is paper currency that is authorized by the government to be used as part of its currency. This means that it has value because the government says it does, and people agree to use it as a medium of exchange. Other types of money include coins, demand deposits that can be easily converted to cash, and e-money that is stored on a computer or computer chip. Lawful money is money that is legal tender for the payment of debts, while paper money is currency in the form of bills drawn by a government against its own credit. Real money has intrinsic value, such as metallic value, and is different from money on account.

A more thorough explanation:

Flat money is a type of currency that is not backed by gold or silver. It is also known as fiat money. This means that the value of the money is determined by the government that issues it, rather than by the value of a physical commodity.

Examples of flat money include paper bills and coins that are used as legal tender in a country. The US dollar, the euro, and the Japanese yen are all examples of flat money.

Flat money is different from real money, which has intrinsic value, such as gold or silver coins. It is also different from e-money, which is a digital form of currency that is stored on a computer or a chip.

Flat money is important because it allows for easier exchange of goods and services within a country. It is widely accepted and recognized as a medium of exchange, making it easier for people to conduct transactions.

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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
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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