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Simple English definitions for legal terms

general intangible

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A quick definition of general intangible:

A general intangible is something valuable that you can't touch or see, like the right to publish a book or the good reputation of a business. It's hard to put a specific value on these things. They are important when people borrow money or make deals because they can be used as collateral, which means if the borrower can't pay back the money, the lender can take ownership of the general intangible instead.

A more thorough explanation:

A general intangible is a type of asset that does not have a physical form and is difficult to calculate. Examples of general intangibles include literary rights, goodwill, and things in action. These types of assets are important in secured transactions.

According to the Uniform Commercial Code (UCC), general intangibles can be any personal property except for money, documents, investment property, instruments, goods, accounts, chattel paper, proceeds from letters of credit, and oil, gas, or other minerals before extraction.

For instance, in the case of Ciprian Ltd. v. Oxford Dev. Co. Grant St., L.P., creditors were entitled to the proceeds from the sale of a debtor's liquor license, which is considered a general intangible. This means that even though the liquor license is not a physical asset, it can still be used as collateral for a loan or other financial transaction.

general election | general intent

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2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
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