LSDefine

Simple English definitions for legal terms

hypothecary debt

Read a random definition: Chief Justice of the Common Pleas

A quick definition of hypothecary debt:

Hypothecary debt is a type of debt that is secured by a lien on an estate. This means that if the debtor fails to pay back the debt, the creditor has the right to take possession of the estate. It is important to pay back hypothecary debt on time to avoid losing the property that is being used as collateral.

A more thorough explanation:

Definition: Hypothecary debt is a type of debt that is secured by a lien on an estate. It means that if the debtor fails to pay back the debt, the creditor has the right to take possession of the estate and sell it to recover the debt.

Example: A person takes out a mortgage to buy a house. The mortgage is a hypothecary debt because the lender has a lien on the house. If the borrower fails to make the mortgage payments, the lender can foreclose on the house and sell it to recover the debt.

This example illustrates how hypothecary debt works. The lender has a security interest in the property, which gives them the right to take possession of it if the borrower defaults on the loan. This type of debt is common in real estate transactions, where the property serves as collateral for the loan.

hypothecary action | hypothèque

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

Dkk

21:03

@madollyy: yeah that happend to me too with my community college transcript. You can try calling to see if they can alter your transcript but like mine would not do it.

Dkk

21:04

Ask @babycat to tutor you @madollyy

KnowledgeableRitzyWasp

21:08

cat food is expensive tho

Eggan

21:09

I HOPW THAT ISNT REAL

[] texaslawhopefully

21:09

@JumpySubsequentDolphin: I would push back on this. I think for the vast majority of people LSAT tutoring is unnecessary.

Eggan

21:09

oh its from nov 12 phew

Eggan

21:09

i was about to have a heart attack

Eggan

21:09

at the berk decision lmao

[] texaslawhopefully

21:10

@madollyy: I focus on bringing your GPA up as much as possible in the last semester because once you graduate you cannot change that. So don't study for the LSAT next semester if you think that would impair your ability to get straight A's. As for LSAT studying, I would recommend LSAT Demon (ik controversial), the Loophole, and Reading Comp Hero.

[] texaslawhopefully

21:10

*I would focus

JumpySubsequentDolphin

21:11

@texaslawhopefully: oh I’m not sure hahaha im just basing off of my friend who got a tutor bc she was rly struggling and it seemed like it helped her!

[] texaslawhopefully

21:12

Yeah, that's fair! For some people it can help a lot. I'm just saying in general I don't think it is necessary unless you are trying to finetune a very specific area (or get to the high 170s because that is another thing in and of itself) OR are just terrible at the test. I tutor the test and I find that most people can improve just as much through self-study.

JumpySubsequentDolphin

21:13

that makes sense for sure

JumpySubsequentDolphin

21:13

i think for her it was a lack of discipline more than anything else tbh. she could not get herself to meaningfully study on her own

madollyy

22:05

I've finished all my major requirements, so I'm taking pretty much all electives next semester. Keeping one major specific class bc I'm majoring in it for a reason haha. But I'll be pretty free to study and try and improve my GPA. I will try self study first, see where that gets me. If that doesn't work I'll look into tutoring!

jackfrost11770

22:05

the way there probs won't be another wave until after thanksgiving LMFAO

jackfrost11770

22:05

i hate this

JumpySubsequentDolphin

22:07

omg i just got a Snapchat memory of my friend losing her mind bc she thought Eminem was black

JumpySubsequentDolphin

22:07

SHES FROM MICHIGAN

JumpySubsequentDolphin

22:07

THIRTY MINS AWAY FROM DETROIT

babycat

22:10

most of the stuff a tutor will teach you is stuff you can figure out yourself if you’re sufficiently motivated. if you would benefit from some support and structure tutoring can be helpful

babycat

22:13

thanks for the plug dk you’re a sweetie

[] texaslawhopefully

22:13

^^one hundred percent agree

babycat

22:16

texas what made you decide you wanted to go to law school so young? just opportunity cost or something else?

GodsPlanUltimately

22:45

I ust submitted my application on LSAC but why does it say transmitted (still in the active application) and is not in the complete application file?

GodsPlanUltimately

22:45

Freaking out here

babycat

22:46

because you just submitted it. give it like an hour and it’ll go into the complete file

GodsPlanUltimately

22:47

Rationally that's what I thought but irrationally I was like crying throwing up did I mess it up lol

babycat

22:49

Lol you’re all good

GodsPlanUltimately

22:49

I'm assuming then for status checking eventually that the school emails you that information once LSAC finishes processing?

LSD+ is ad-free, with DMs, discounts, case briefs & more.