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Simple English definitions for legal terms

junior security

Read a random definition: pre-filing period

A quick definition of junior security:

Junior security is a type of guarantee that someone gives to make sure they will pay back money they borrowed. It's like a promise that they will pay back the money with interest. It can also mean a person who promises to pay back the money if the borrower can't. Security can also mean being safe from danger or attack. In finance, a security is a piece of paper that shows you own part of a company or government and can make money from it. It can be a stock, bond, or other type of investment.

A more thorough explanation:

A junior security is a type of security that is subordinate to other securities in terms of priority of payment. A security is a type of financial instrument that represents ownership in a company or government entity, or a promise to pay back borrowed money with interest.

For example, if a company issues bonds to raise money, those bonds are a type of security. If the company also issues preferred stock, that is another type of security. If the company runs into financial trouble and cannot pay all of its debts, the holders of the bonds will be paid first, before the holders of the preferred stock. The preferred stock is considered a junior security because it is lower in priority for payment.

Another example of a junior security is a second mortgage on a house. If the homeowner defaults on the mortgage and the house is sold to pay off the debt, the first mortgage holder will be paid first, before the second mortgage holder. The second mortgage is considered a junior security because it is lower in priority for payment.

In summary, a junior security is a type of financial instrument that is lower in priority for payment than other securities. Examples include preferred stock and second mortgages.

Julian calendar | junior user

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General

General chat about the legal profession.
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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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