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Simple English definitions for legal terms

letter of license

Read a random definition: Health Insurance Portability and Accountability Act (HIPAA)

A quick definition of letter of license:

A letter of license is an agreement signed by all the creditors of a business that is having financial difficulties. This agreement allows the business more time to pay its debts and continue operating in the hopes of overcoming its financial problems. The letter also protects the business from being sued or arrested while it is in effect.

A more thorough explanation:

A letter of license is an agreement signed by all the creditors of a financially troubled business. This agreement grants the debtor more time to pay debts, allows the debtor to continue business in the hope of overcoming its financial distress, and protects the debtor from arrest, lawsuit, or other interference while the letter is in effect.

For example, if a business is struggling to pay its debts, it may negotiate a letter of license with its creditors. This agreement would give the business more time to pay its debts and protect it from legal action while it works to improve its financial situation.

Another example would be if an individual is struggling to pay their debts and enters into a debt management plan. As part of this plan, they may negotiate a letter of license with their creditors to give them more time to pay their debts and protect them from legal action.

letter of intent | letter of recall

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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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