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Simple English definitions for legal terms

legal capital

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A quick definition of legal capital:

Legal capital refers to the minimum amount of money that a company must have in order to protect its creditors. This amount is equal to the total value of all outstanding shares of a corporation or a set amount determined by the board of directors. Some states require this amount to remain in the company to ensure that creditors are protected. It is also known as stated capital.

A more thorough explanation:

Legal capital refers to the minimum amount of money that a company must have in order to protect its creditors. This amount is equal to the total value of all outstanding shares of a corporation or an amount set by the board of directors. Some states require this amount to remain in the corporation to protect creditors.

For example, if a company has 100 shares of stock with a par value of $10 per share, the legal capital would be $1,000. This means that the company must have at least $1,000 in assets to protect its creditors.

Legal capital is also known as stated capital and is different from paid-in capital, which is the money paid for the capital stock of a corporation.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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