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Simple English definitions for legal terms

limitation on indebtedness

Read a random definition: ascertained

A quick definition of limitation on indebtedness:

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A more thorough explanation:

Limitation on indebtedness refers to a restriction placed on borrowing by an individual, business, or government. It is also known as debt limitation.

For instance, the constitutions of many states in the US prohibit the states from incurring debt beyond a certain amount. In some other states, the constitution allows the states to incur debt above a certain amount only through a vote of the people.

For example, the constitution of California limits the state's indebtedness to 8% of the total assessed value of property in the state. This means that the state cannot borrow more than 8% of the total assessed value of property in the state.

Another example is the debt ceiling imposed by the US Congress, which limits the amount of money the federal government can borrow. The debt ceiling is a statutory limit on the amount of national debt that can be issued by the Treasury.

These examples illustrate how limitation on indebtedness works to prevent individuals, businesses, and governments from borrowing beyond their means and getting into financial trouble.

limitation-of-remedies clause | limitation period

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come in the DAY AFTER SHE GIVES BIRTH
W HER BABY
13:23
saw that, crazy that she cant just hold the fucker in for a day longer
LMFAO
babycat
13:23
gulc going to hell I’m so serious
glovediedthisishismom
13:24
thats definetly horsey on an alt
glovediedthisishismom
13:24
no way any professor did that
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
13:28
real ones shop at YMH
triplethread
13:28
i missed another fordham wave
triplethread
13:28
mamas getting denied
JumpySubsequentDolphin
13:29
the bergdorf on 5th Ave in NYC is so
JumpySubsequentDolphin
13:29
it feels like home
Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
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