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Simple English definitions for legal terms

long account

Read a random definition: ENTREPÔT

A quick definition of long account:

An account is a record of money transactions between people or organizations. It can be used to keep track of money owed or paid, and to settle disputes. There are different types of accounts, such as bank accounts, joint accounts, and trust accounts. Some accounts have special rules, like tax-deferred accounts that let you save money without paying taxes until you withdraw it. Being accountable means being responsible for your actions and being able to explain them.

A more thorough explanation:

Definition: A detailed statement of the debits and credits between parties to a contract or to a fiduciary relationship; a reckoning of monetary dealings.

Examples:

  • An executor filing an annual account of their dealings with an estate.
  • A brokerage account that allows an investor to buy or sell securities on credit, with the securities serving as collateral for the broker's loan.
  • A bank account opened by two or more people, by which each party has a present right to withdraw all funds in the account and, upon the death of one party, the survivors become the owners of the account, with no right of the deceased party's heirs or devisees to share in it.

These examples illustrate the definition of a long account as a detailed statement of monetary dealings between parties. In the case of an executor filing an annual account, it shows a detailed record of the executor's financial transactions with an estate. In the case of a brokerage account, it shows a detailed record of the investor's financial transactions with the broker. In the case of a joint bank account, it shows a detailed record of the financial transactions between the account holders.

long | longa manu

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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