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Simple English definitions for legal terms

liquid debt

Read a random definition: bothagium

A quick definition of liquid debt:

Liquid debt refers to a type of debt that is due immediately and unconditionally. This means that the debtor owes a specific sum of money that must be paid right away. Liquid debt is different from other types of debt, such as contingent debt or unliquidated debt, which may not have a fixed amount or may not be due until a future event occurs. Examples of liquid debt include credit card balances, personal loans, and bills that are past due.

A more thorough explanation:

Liquid debt is a type of debt that is due immediately and unconditionally. This means that the debtor owes a specific sum of money that must be paid right away without any conditions or restrictions.

For example, if a person borrows $500 from a friend and agrees to pay it back in full within a week, this is a liquid debt. The borrower owes a specific amount of money that must be paid back within a specific timeframe.

Another example of liquid debt is a credit card balance. If a person charges $1,000 on their credit card, they owe that amount immediately and must pay it back within the billing cycle to avoid interest charges.

Overall, liquid debt is a type of debt that is due immediately and cannot be delayed or postponed. It is important for debtors to prioritize paying off liquid debt to avoid accumulating interest charges and potential penalties.

liquidation value | liquidity

General

General chat about the legal profession.

General >T14 Off Topic

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texaslawhopefully

18:48

@llama: This was the best explanation that I read for it: https://samharris.substack.com/p/the-reckoning

llama

18:48

@GapingVariousTurkey: same bro. im not worried cause yolo, but i think an honest talk with each applicable school will allow them to give leeway

texaslawhopefully

18:48

But, yeah, I think many people were shocked

thanatologist

18:49

any UK law students?

llama

18:49

@texaslawhopefully: when I have some time i will read, thanks fren. Regardless of whichever of the two [T or H] are in the WH, I truly believe expectations will be looked back on as over worried.

llama

18:50

@thanatologist: Kentucky?

texaslawhopefully

18:51

@llama: I don't know man, maybe I've been reading way too much news but I'm worried in a way I wasn't with Biden, or would've been with Harris

llama

18:53

@texaslawhopefully: looking back, the Rs were freaking out saying Biden was going to end the country, and the Ds were freaking out during DJTs 1st term. Neither did exceptionally bad or good, IMHO. At the end of the day, the rest of the GOV (Judaical and Congress) really put a damper on grandiose executive plans. Finally, we all know Donnie is a talker: he anchors (ie tarrifs), he talks shit, he says he will do X and never does. news eats that shit up, but I think most will not ever come to pass

Dkk

18:54

I really think it's a lot of political theater right now. I think a huge percentage of these EO's are just going to be shot down.

llama

18:55

the news sells fear. that is their product (hence why u see COPD, heart meds, stress/ antidepressants adverts during primtime). We know trump has a big mouth, and when he opens it, he spews nonsense which gets funneled into ur ears- ratings skyrocket.

llama

18:56

not COPD. my bad ^

KnowledgeableRitzyWasp

18:57

dem messaging is lightyears behind MAGA messaging, part of this can be blamed on foreign governments boosting the MAGA party to destabilize the country, but the democrat old guard is so far behind MAGA strategy

llama

18:57

@Dkk: exactly.

KnowledgeableRitzyWasp

18:58

dems need to give way to modern leftists like AOC and bernie

llama

18:58

@KnowledgeableRitzyWasp: AOC is my crushhhh

Dkk

18:59

It's amazing cus in 2008/2012 people were even wondering if the Republican party was still going to be a thing and then yeah, MAGA just took over.

KnowledgeableRitzyWasp

18:59

but unfortunately the left purity tests all of its members to death, for the left their candidates have to be perfect, for the right their candidates are basically forgiven for anything. it makes it a hard sell for upcoming talent to attach to the left wing when they will cancel their politicians for any perceivable social slight

texaslawhopefully

18:59

Yeah, unfortunately that happened in part with Harris and the far-Left

llama

19:00

@KnowledgeableRitzyWasp: see with takes like that, it is no wonder how you are called Knowledgeable Wasp

KnowledgeableRitzyWasp

19:00

ie a lot of the left didnt vote for harris because they thought biden was too soft on israel for the I/P situation. but now they have trump who will literally hand netanyahu bombs to genocide palestinians

texaslawhopefully

19:01

And even on that issue, though, I thought Biden was very moderate, whereas the far-Left just had unrealistic expectations of where he was going to end up

KnowledgeableRitzyWasp

19:03

yeah absolutely, and our modern left doesn't appreciate that if they eventually want their policies, their best bet is incremental progress, not a perceived revolution

Dkk

19:03

So if you are 19, Trump won his first election when you were like 11. What were you doing at 11?

Dkk

19:03

This is just interesting for me to think about.

Dkk

19:06

Wasp do you remember Clinton as president because I do not.

KnowledgeableRitzyWasp

19:07

i hadnt developed sentience by 6 years old

llama

19:07

@KnowledgeableRitzyWasp: lmfao

KnowledgeableRitzyWasp

19:07

<3

LawIsForPeasants

19:07

@texaslawhopefully: actually that was a huge counter biden movement (and harris) re they were held hostage by party politics and any words otherwise were lies that would be walked back, like border action

LawIsForPeasants

19:08

The radical left views open borders as a human right

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