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Simple English definitions for legal terms

letter security

Read a random definition: importer

A quick definition of letter security:

Letter security is a type of security that is restricted and provides assurance to a creditor that they will be repaid any money or credit extended to a debtor. It can also refer to an instrument that shows ownership rights in a company or other rights. Securities are different from other commodities because they represent rights in something else and their value depends on the financial condition of the promisor or the profitability of the corporation.

A more thorough explanation:

Letter security is a type of security that is restricted, meaning it has limitations on who can access it. It is a form of collateral that is given to guarantee the fulfillment of an obligation. This can include a promise to repay a loan with interest or to fulfill a contractual obligation.

Examples of letter securities include:

  • Bonds
  • Debentures
  • Certificates of deposit
  • Guarantees

These examples illustrate the definition of letter security because they are all forms of collateral that are used to guarantee the fulfillment of an obligation. For example, a bond is a type of letter security that is issued by a company or government to raise money. The bondholder is promised a fixed rate of interest and the return of their principal investment at a future date. If the company or government fails to fulfill this obligation, the bondholder can take legal action to recover their investment.

letters close | letters of absolution

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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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