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Simple English definitions for legal terms

in commendam

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A quick definition of in commendam:

In commendam is a legal term that means property held in a limited partnership. A partnership is when two or more people own and run a business together for profit. In a limited partnership, some people contribute money but don't manage the business, while others do both. The purpose is to limit the amount of money someone can lose if the business fails. This type of partnership is different from a general partnership, where everyone is equally responsible for the business's debts.

A more thorough explanation:

Definition: In trust. This term is typically used in civil law to refer to property held in a limited partnership. A limited partnership is a type of partnership where there are one or more general partners who control the business and are personally liable for the partnership's debts, and one or more limited partners who contribute capital and share profits but cannot manage the business and are only liable for the amount of their contribution.

Example: John and Jane start a limited partnership to open a restaurant. John is the general partner and manages the restaurant, while Jane is a limited partner who contributes money but does not participate in the management of the business. If the restaurant incurs debts, John is personally liable for them, but Jane is only liable for the amount of money she contributed.

This example illustrates how a limited partnership works and how the term "in commendam" is used to refer to property held in this type of partnership.

income yield | in common

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no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
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