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Simple English definitions for legal terms

marshaling assets, rule of

Read a random definition: electio est debitoris

A quick definition of marshaling assets, rule of:

The rule of marshaling assets is a fair principle that requires a creditor who has multiple funds to pay off their debt to use the fund that is not available to a junior creditor first. This prevents the senior creditor from using the only fund available to the junior creditor and leaving them with no payment. It is also known as the marshaling doctrine, rule of marshaling securities, or rule of marshaling remedies.

A more thorough explanation:

The Rule of Marshaling Assets is an equitable doctrine that requires a senior creditor, who has two or more funds to satisfy their debt, to first dispose of the fund not available to a junior creditor. This rule prevents the senior creditor from choosing to satisfy their debt out of the only fund available to the junior creditor, which would exclude the junior creditor from any satisfaction.

For example, let's say a debtor owes two creditors, A and B. The debtor has two properties, Property X and Property Y. Property X is worth $100,000, and Property Y is worth $50,000. Creditor A has a lien on Property X, and Creditor B has a lien on Property Y. If the debtor defaults on their debt, Creditor A can only satisfy their debt by selling Property X. However, the Rule of Marshaling Assets requires Creditor A to first attempt to satisfy their debt by selling Property Y, which is not available to Creditor B. Only after exhausting all other options can Creditor A sell Property X to satisfy their debt.

The Rule of Marshaling Assets is also known as the Marshaling Doctrine, Rule of Marshaling Securities, or Rule of Marshaling Remedies.

married women's property acts | marshaling doctrine

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no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
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