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Simple English definitions for legal terms

liquidated debt

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A quick definition of liquidated debt:

Liquidated debt is a type of debt where the amount owed has been agreed upon by both parties or determined by law. This means that there is a specific amount of money that is owed and it is not up for dispute. It is the opposite of unliquidated debt, which is when the amount owed is unclear or in dispute. Examples of liquidated debt include a loan with a set repayment amount or a bill for services rendered with a specific fee.

A more thorough explanation:

Liquidated debt is a type of debt where the amount owed has been agreed upon by both parties or determined by law. For example, if you borrow $500 from a friend and agree to pay it back in a month with $50 interest, the total liquidated debt would be $550.

Another example of liquidated debt is a court-ordered judgment against someone who owes a specific amount of money to another person or entity.

It is important to note that liquidated debt is different from unliquidated debt, which is a debt that has not been determined or agreed upon yet.

liquidated-damages clause | liquidated demand

General

General chat about the legal profession.

General >T14 Off Topic

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TheAdoptedOne

9:17

im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website

TheAdoptedOne

9:17

it is not working

HowlEngineer

9:18

Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students

TheAdoptedOne

9:19

i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)

BruceSutter

9:28

There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years

llama

9:28

congrats on the 172 bruce

TheAdoptedOne

9:29

go dawgs fr

llama

9:29

roll tide

jackfrost11770

9:31

do we foresee a fordham election day wave today (i'm delusional)

WorthlessAttractiveZombie

9:31

I think so, Jack

llama

9:31

some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173

llama

9:32

[kevin oleary]

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

jackfrost11770

9:33

worthless i trust you implicitly you know what it will happen now.

WorthlessAttractiveZombie

9:34

I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)

jackfrost11770

9:35

IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES

jackfrost11770

9:35

HELLO

WorthlessAttractiveZombie

9:35

it sent a million times lol

jackfrost11770

9:35

WHAT HAPPENED

TheAdoptedOne

9:35

yeah i thought you were tweaking for a second

jackfrost11770

9:35

i'm so sorry everyone what the actual fuck this website hates me

WorthlessAttractiveZombie

9:35

Jack's just tweaking on LSD no biggie

jackfrost11770

9:36

to be fair this accurately represents my mental state

KnowledgeableRitzyWasp

9:37

election day psychosis coming in hot (fordham)

jackfrost11770

9:38

usc pls pull through .....

jackfrost11770

9:38

i literally just need one A so i can relax before my ED decision

WorthlessAttractiveZombie

9:38

oh that's right USC might release

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