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LSDefine

Simple English definitions for legal terms

mining partnership

Read a random definition: Personal Information

A quick definition of mining partnership:

A mining partnership is when a group of people work together to run a mining business. They share the profits, expenses, and losses. It's like a team where everyone helps each other. Mining partnerships are different from regular business partnerships because they don't have the right to choose who can join the team.

A more thorough explanation:

A mining partnership is a group of people who come together to share a mining business. This includes sharing the profits, expenses, and losses. It is a combination of a tenancy in common and a commercial partnership.

For mining partnerships, the law governing ordinary commercial or trading partnerships applies, with a few exceptions. One of the main differences is that the principle of delectus personae, which means the right of a partner to choose who can join the partnership, does not apply to mining partnerships.

For example, a group of individuals may come together to mine for gold. They will share the costs of mining, such as equipment and labor, and also share any profits or losses. They cannot choose who can join the partnership, unlike in a regular commercial partnership.

mining location | mining rent

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SickToughBulldog
11:02
hey folks! manifesting good things still
when do y'all think the next wave of YLS interview invites will be
I applied relatively late (only like a week or so ago)
Seems like it’s an every 2 week thing. Also, my II on 11/08 allowed interview dates up to 11/20. I imagine they’ll complete all these interviews then send out new invites on 11/21? Just a guess
that's helpful, thanks!
shaquilleoatmeal
11:15
how smart or dumb do yall think this idea is: buying out a brand new m3 and depleting most of my savings so schools give me more loans...
11:15
genius
snow
11:16
hahah
snow
11:16
that sounds cool
11:16
if a brand new m3 only takes out "most" of ur savings then we are in different tax brackets brotha
shaquilleoatmeal
11:17
been working for a hot minute lol my thought is id rather have loans than use my actual funds lol id rather use those funds for food and shit
shaquilleoatmeal
11:17
my friends think its a dumb idea but idk i honestly think its smart lol
I don't know. I personally wouldn't do it because it's another few thousand in loans you will have to take it out. I would only do it if your current laptop will be too old/slow for law school.
11:18
would maybe invest in an asset that doesnt deplete in value at the speed of light but makes sense to not just have cash sittinng around
11:18
75-85k can get you a lot more than a m3
shaquilleoatmeal
11:19
i think assets go towards the calculation though ^ thats why i don't want to invest it
11:19
what do you think a car is considered
11:20
its an asset listed on your taxes which are used to calculate financial aid
shaquilleoatmeal
11:20
fahk true, i don't know why that slipped my mind
Need-based aid is mostly loans though. I mean law schools are way more stingy with need based aid than undergrad schools.
Merit aid is more common at the vast majority of schools.
11:20
yeah most money thrown at you will be merit based
shaquilleoatmeal
11:21
dont think ill get merit, below every 25th lsat, above every 75th gpa
babycat
11:21
okay then maybe look at some schools where you will get merit aid
11:21
if you have 75k, that is a year of law school at most places. basically a self funded scholarship
babycat
11:21
washu LSAT redacted?
Oh, you have 75k in funds lmao
washu would def give you merit aid
11:22
well he said he was gonna buy a new m3 and it would only take out most of his savings. new m3 is priced between 75-85k rn
shaquilleoatmeal
11:23
nah gotta stay local cant go somewhere, realistically
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