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Simple English definitions for legal terms

loan society

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A quick definition of loan society:

A loan society is a group of people who come together to save money and lend it to each other. These groups were created to help workers who needed money for things like buying a home or starting a business. They were like the first banks, but run by regular people instead of big companies.

A more thorough explanation:

A loan society is a type of club that is organized to collect deposits from industrial workers and provide them with loans. These societies were popular in England and were the forerunners of the American savings-and-loan associations.

For example, a group of factory workers might form a loan society to help each other save money and borrow funds when needed. Members would make regular deposits into the society's fund, and then could apply for loans at a lower interest rate than they might get from a bank.

This type of organization was especially important in the days before widespread access to banking services, and helped working-class people to build up savings and access credit when they needed it.

loansharking | loan-to-value ratio

General

General chat about the legal profession.

General >T14 Off Topic

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madollyy

20:41

My university does not list A+

JumpySubsequentDolphin

20:42

yeah my university’s the same way, so frustrating! still a great GPA and with a killer LSAT score you’ll be good to go :)

JumpySubsequentDolphin

20:42

if you have the means, I’ve heard private tutoring is the way to go

madollyy

20:44

Fingers crossed! I mean I'd be so so glad to go to law school period, but I am a bit of an overachiever. Dream is Berkeley rn, but I'm of course happy to go anywhere that lines up with my plans. And is kind enough with scholarships lol

madollyy

20:44

I'll have to see if my parents are willing to support that. I'm living on my own but ik if it'd help me they'd be willing to help

JumpySubsequentDolphin

20:47

who knows, you might not even need a tutor! Take a diagnostic and see where you stand :)

Dkk

21:03

@madollyy: yeah that happend to me too with my community college transcript. You can try calling to see if they can alter your transcript but like mine would not do it.

Dkk

21:04

Ask @babycat to tutor you @madollyy

KnowledgeableRitzyWasp

21:08

cat food is expensive tho

Eggan

21:09

I HOPW THAT ISNT REAL

[] texaslawhopefully

21:09

@JumpySubsequentDolphin: I would push back on this. I think for the vast majority of people LSAT tutoring is unnecessary.

Eggan

21:09

oh its from nov 12 phew

Eggan

21:09

i was about to have a heart attack

Eggan

21:09

at the berk decision lmao

[] texaslawhopefully

21:10

@madollyy: I focus on bringing your GPA up as much as possible in the last semester because once you graduate you cannot change that. So don't study for the LSAT next semester if you think that would impair your ability to get straight A's. As for LSAT studying, I would recommend LSAT Demon (ik controversial), the Loophole, and Reading Comp Hero.

[] texaslawhopefully

21:10

*I would focus

JumpySubsequentDolphin

21:11

@texaslawhopefully: oh I’m not sure hahaha im just basing off of my friend who got a tutor bc she was rly struggling and it seemed like it helped her!

[] texaslawhopefully

21:12

Yeah, that's fair! For some people it can help a lot. I'm just saying in general I don't think it is necessary unless you are trying to finetune a very specific area (or get to the high 170s because that is another thing in and of itself) OR are just terrible at the test. I tutor the test and I find that most people can improve just as much through self-study.

JumpySubsequentDolphin

21:13

that makes sense for sure

JumpySubsequentDolphin

21:13

i think for her it was a lack of discipline more than anything else tbh. she could not get herself to meaningfully study on her own

madollyy

22:05

I've finished all my major requirements, so I'm taking pretty much all electives next semester. Keeping one major specific class bc I'm majoring in it for a reason haha. But I'll be pretty free to study and try and improve my GPA. I will try self study first, see where that gets me. If that doesn't work I'll look into tutoring!

jackfrost11770

22:05

the way there probs won't be another wave until after thanksgiving LMFAO

jackfrost11770

22:05

i hate this

JumpySubsequentDolphin

22:07

omg i just got a Snapchat memory of my friend losing her mind bc she thought Eminem was black

JumpySubsequentDolphin

22:07

SHES FROM MICHIGAN

JumpySubsequentDolphin

22:07

THIRTY MINS AWAY FROM DETROIT

babycat

22:10

most of the stuff a tutor will teach you is stuff you can figure out yourself if you’re sufficiently motivated. if you would benefit from some support and structure tutoring can be helpful

babycat

22:13

thanks for the plug dk you’re a sweetie

[] texaslawhopefully

22:13

^^one hundred percent agree

babycat

22:16

texas what made you decide you wanted to go to law school so young? just opportunity cost or something else?

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