LSDefine

Simple English definitions for legal terms

new asset

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A quick definition of new asset:

A new asset is something that someone owns and has value. It can be anything from money to property to equipment. When someone has assets, it means they have things that are valuable and can be used to pay off debts or distribute to others. A new asset is just something that has recently been acquired and is now considered part of someone's overall assets.

A more thorough explanation:

A new asset is an item that is owned and has value. It can be anything from cash, inventory, equipment, real estate, accounts receivable, and goodwill. It can also refer to all the property of a person available for paying debts or for distribution.

For example, if a company purchases a new piece of equipment, it becomes a new asset for the company. Similarly, if a person inherits a property, it becomes a new asset for that person.

New assets are important for businesses and individuals as they increase their net worth and can be used to generate income or pay off debts.

new and useful | new assignment

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

llama

15:33

can we see ur mod badge?

[M] cheriebomb

15:41

just for u sweetie pie

llama

15:43

woah so much swagger with dat 'm;

Dkk

15:47

@shaquilleoatmeal: more like, blow my back out by the bay boston instead of back bay boston.

llama

15:48

https://www.urbandictionary.com/define.php?term=Chad%20Thundercock

Dkk

15:48

Indeed, the legendary man himself.

cheriebomb

15:49

I would go to blow my back out by the bay boston

llama

15:50

lift with ur back not your legs, its better to have a blown back than two bad legs

CynicalOops

15:53

Blow and back day out by boston bay

cheriebomb

15:59

so true

Dkk

16:03

Of course. Man sad Ricky Henderson died. That was my favorite athlete of all time.

windyMagician

16:10

is it dumb that I rlly want to go to Mich even tho I have a full ride to umn

llama

16:12

no-value as a consumer often means more than the price

Dkk

16:15

@windyMagician: Nah michigan is better than UMN

Dkk

16:15

My sister just officially graduated, yay!

llama

16:16

awesome @Dkks sister

llama

16:16

prolly named veronica or sarah

windyMagician

16:16

@Dkk: for public defense tho?

windyMagician

16:16

Sarah in the bathroom

texaslawhopefully

16:17

@windyMagician: not at all. Michigan is also very generous with aid, so if you get enough it makes perfect sense to take it.

windyMagician

16:17

fuck okay

windyMagician

16:17

going to my dream school is crazy

KnowledgeableRitzyWasp

16:18

michigan also has better options if you do PD for 10 years then want to do something else

windyMagician

16:19

also would love to clerk for my federal district court even tho I know its hella competitive, I think mich sets me up better?

llama

16:20

would be a great point to bring up when ur deciding / visiting each place- see what recent placement looks like

texaslawhopefully

16:23

For fed clerkships by far Michigan places better. I think it’s like 14-15 percent

windyMagician

16:25

sticker debt is high-key scary tho

texaslawhopefully

16:26

I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.

cheriebomb

16:34

i am going to wait patiently into january to get into a law school

cheriebomb

16:34

then i will start tweaking

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