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LSDefine

Simple English definitions for legal terms

gain

Read a random definition: good and lawful fence

A quick definition of gain:

Gain means getting more of something, like more money or more value. It can also mean making a profit by selling something for more than it cost to make or buy. Sometimes people do bad things to get gain, like committing a crime for money. In taxes, gain is the extra money you make when you sell something for more than you paid for it.

A more thorough explanation:

Gain refers to an increase in amount, degree, or value. It can be a gain of money or something that has monetary value. It can also refer to excess of receipts over expenditures or sale price over cost. In tax, it is the excess of the amount realized from a sale or other disposition of property over the property's adjusted value.

  • A person invests $100 in a stock and sells it for $150. The gain is $50.
  • A thief steals a car and sells it for $10,000. The gain is $10,000.
  • A company sells a product for $500 that cost $400 to produce. The gain is $100.
  • A person sells a house for $300,000 that they bought for $250,000. The gain is $50,000.

These examples illustrate how gain can refer to an increase in monetary value or excess of receipts over expenditures or sale price over cost. In each example, there is a difference between the amount spent or invested and the amount received, which is the gain.

gager del ley | gainage

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General

General chat about the legal profession.
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Tell us what's important to you
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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