Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

long-term debt

Read a random definition: mitigating circumstance

A quick definition of long-term debt:

Long-term debt is money that someone owes and will not have to pay back for a year or more. It is usually used to buy big things like a house or a car. This is different from short-term debt, which is money that someone owes and has to pay back within a year. Long-term debt can be secured, which means the person who lent the money can take something away if the borrower doesn't pay it back, or unsecured, which means there is no specific thing the lender can take away.

A more thorough explanation:

Long-term debt refers to a type of debt that is not due for payment within the next year. It is a liability on a claim, which means a specific sum of money that is owed by agreement or otherwise.

Examples of long-term debt include:

  • Bonds or debentures
  • Mortgages
  • Bank loans with a repayment period of more than one year

These examples illustrate long-term debt because they are all debts that are not due for payment within the next year. For instance, a bond is a type of long-term debt that is issued by a company or government and has a maturity date of more than one year. This means that the bondholder will receive their principal investment plus interest after a certain period of time, usually several years.

long-term capital loss | long-term foster care

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.