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LSDefine

Simple English definitions for legal terms

nominal asset

Read a random definition: loadsman

A quick definition of nominal asset:

A nominal asset is something that someone owns and has value. It can be things like cash, inventory, equipment, real estate, accounts receivable, and goodwill. It's important to know what assets someone has when they owe money or when they pass away. Some assets can be easily turned into cash, while others are harder to sell or take longer to turn into cash.

A more thorough explanation:

A nominal asset is an item that has value and is owned by an individual or organization. It can include cash, inventory, equipment, real estate, accounts receivable, and goodwill. Nominal assets are listed on a balance sheet and can be used to pay debts or distributed in the case of bankruptcy or death.

  • Current assets: Assets that can be easily converted into cash, such as marketable securities, notes, or accounts receivable.
  • Fixed assets: Long-term assets used in the operation of a business, such as equipment, land, or an industrial plant.
  • Intangible assets: Nonphysical assets that can be converted to cash, such as patents, trademarks, or copyrights.

These examples illustrate how different types of assets can be classified as nominal assets and included on a balance sheet. They can be used to evaluate the financial condition of an individual or organization and can be important in determining the ability to pay debts or distribute assets in the case of bankruptcy or death.

nominal account | nominal capital

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im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
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