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Simple English definitions for legal terms

nonmonetary item

Read a random definition: profectitius

A quick definition of nonmonetary item:

A nonmonetary item is something that you own or owe that can change in value. This could be things like land, equipment, inventory, or promises to fix things under warranty. The value of these things can go up or down over time.

A more thorough explanation:

Definition: A nonmonetary item is an asset or liability whose value changes over time. Examples of nonmonetary items include land, equipment, inventory, and warranty obligations.

Examples:

Land: The value of land can fluctuate depending on factors such as location, zoning laws, and market demand.
Equipment: The value of equipment can change due to technological advancements, wear and tear, and market demand.
Inventory: The value of inventory can vary depending on supply and demand, expiration dates, and changes in consumer preferences.
Warranty obligations: The value of warranty obligations can change based on the number of claims made and the cost of repairs or replacements.

These examples illustrate the definition of nonmonetary items because their value is not fixed and can change over time. This makes them different from monetary items, such as cash or accounts receivable, which have a fixed value.

non molestando | nonmovant

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

BulbasaurNoLikeCardio

11:11

@babycat: I wonder why gtown felt what they said was a good idea and how secure that individual felt in their job to believe there would be no backlash.

Dkk

11:11

please, tell me more about Europa: The Last Battle @MostlyLegal

Mostlylegal

11:11

nothing you dont already know

Dkk

11:12

Lmfao, damn out of messages again. Time to go sit in the hot tub.

EvolBunny

11:12

@BulbasaurNoLikeCardio: honestly fuck these schools

EvolBunny

11:12

The way they act is so cringe and gives mad ick

babycat

11:12

@BulbasaurNoLikeCardio: people are saying this has been a pattern with them

babycat

11:12

imagine being a religious school and not supporting mothers. practice what you preach!

EvolBunny

11:12

Fuck dem hoes

Mostlylegal

11:13

Child bearing people*

Mostlylegal

11:13

i cant spell fuck dont correct me

EvolBunny

11:15

Anywayyyyy, i think today i will withdraw all my apps

EvolBunny

11:15

This lsat is not doing it

babycat

11:15

lol live ur truth

Mostlylegal

11:15

ASU at 154 is damn good

Mostlylegal

11:15

154 scholly

BulbasaurNoLikeCardio

11:15

It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.

Dkk

11:16

@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.

renard99

11:16

Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?

babycat

11:16

School fucked up so bad they got hellwoods to sign a petition

Mostlylegal

11:16

Ive also heard their career center is awful too, I think its why it will never be anything but 14-15

JumpySubsequentDolphin

11:17

@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her

babycat

11:17

@Dkk: https://www.reddit.com/r/LawSchool/s/52TFGp7T5k

JumpySubsequentDolphin

11:17

accommodate*

EvolBunny

11:17

@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes

Mostlylegal

11:19

Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?

Dkk

11:19

She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.

babycat

11:20

big things coming for babycat. I own a resistance band now

concorde

11:20

@renard99: jones needs to take this advice and fight aspinall

Mostlylegal

11:21

is that what they are calling punk rock bands these days?

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