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Simple English definitions for legal terms

OID

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A quick definition of OID:

Term: OID

Definition: OID stands for Original-Issue Discount. This means that when someone buys a bond or other type of investment, they may pay less than the face value of the investment. The difference between what they paid and the face value is called the original-issue discount. This discount is considered interest and is taxable income for the investor.

A more thorough explanation:

Definition: OID stands for Original Issue Discount. It refers to the difference between the face value of a bond or other debt instrument and the price at which it is sold initially. This discount is treated as interest income for tax purposes and is spread out over the life of the bond.

Example: Let's say a company issues a bond with a face value of $1,000 but sells it for $900. The OID in this case would be $100 ($1,000 - $900). This $100 discount is considered interest income and is spread out over the life of the bond.

Explanation: The example illustrates how OID works in practice. When a bond is sold at a discount, the difference between the face value and the sale price is treated as interest income for tax purposes. This interest income is spread out over the life of the bond, which means that the bondholder will have to pay taxes on it each year until the bond matures.

OHHLHC | oil-and-gas lease

General

General chat about the legal profession.

General >T14 Off Topic

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Mostlylegal

10:39

nah t4 is a thing, maybe old ive been on lsa and lsd for like 4 years now lol

m10

10:39

Fuck this all reminds me. I got to call and see if I am still being deposed.

JumpySubsequentDolphin

10:40

@Mostlylegal: oh oops hehe

BulbasaurNoLikeCardio

10:40

@m10: most of PSYOP are guys who failed SFAS and Ranger so much so they can't go back and think being SOCOM makes them SF. I loved the cultural side of it all, going to embassies and running influence operations. Doing KLEs and training with foreign militaries was amazing. Learned so much about the world by talking to those who live all over it. Then got lucky and worked with a Marine HIT overseas and would tag along when they kidnapped people to do some stuff lol The rest of the time was a lot of reports and KLEs

babycat

10:40

t4 is a concept being perpetuated by Big Chicago

soap

10:41

Chicago rejected me in undergrad, so I have beef

shaquilleoatmeal

10:41

Was there an hls ii wave yesterday?? Didn’t go online at all and feel out of the loop lmfao

m10

10:42

@BulbasaurNoLikeCardio: Did not know that but it makes sense. That sounds like a cool career. I would have liked to have done that too. I really would have just liked to have gone OCONUS once.

m10

10:44

I was talking to this 88H in a bar last weekend and he had some wild story about being interrogated by the FBI and CIA and shit to get a top-secret clearance or something so he could drive a forklift around Europe, Korea, and Africa. It sounded like a bunch of bullshit to me but do you know if something like that could be true?

babycat

10:45

@shaquilleoatmeal: yeah so I’ve heard

jackfrost11770

10:46

i don't know any of this military talk but i was going to be a combat medic or trauma surgeon for so long before i went this track lol, so my only exposure is seriously looking and visiting places like west point for recruitment lol. i speak russian so everyone always told me that raises your chances at those places lol

jackfrost11770

10:46

my brother is a combat medic too

BulbasaurNoLikeCardio

10:46

@m10: was a great career, the main job is being a cultural expert building rapport and relationships with foreign nationals, militaries and even people hostile to make the area safer and at times bring in the ODAs or three letter guys to train, arm and fund them to aid in their(our) cause. OCONUS is great but not necessary, I only did two real deployments but a lot of missions to places. That is all 110% BS. I have a TS-SCI, worked with federal agencies they do nothing crazy like that.

shaquilleoatmeal

10:47

Damn - 3rd invite missed smh no love for me from hls

m10

10:49

@jackfrost11770: That's like a huge pitfall. People say it's easy to get into like med school or law school through West Point and it is not at all. Yeah, Russian would make you very valuable to them. You will see West Point people in law school but that's very few compared to how many went through the prelaw program there. Best just to enlist and become a combat medic. I've seen like 4 of em here anyway so you didn't really miss anything by going straight to law school.

BulbasaurNoLikeCardio

10:49

I "speak" Dutch but never used it after training back in 2012. Russian is great if you can get into INTEL but outside of that they would just assign you a lot of NATO roles if you go EUCOM. If you go Jag it may score you a nice job in Europe but at this point with the lack of benefits the military would give you just go state department as an attorney and you will travel the world.

m10

10:50

@BulbasaurNoLikeCardio: Oh yeah, I get that. My buddy just got back from Jordan and he gained like 25 lbs there just being a fat ass doordashing for 50 cents a delivery.

glovediedthisishismom

10:50

https://youtu.be/BM-Yf-DXhMM?si=dtiskk_90ckDOjwo

jackfrost11770

10:50

yeah haha i mean i was like 15 so i didn't know anything, and yeah that makes complete sense. my main thing was that i knew i didn't want to go to medical school and i didn't want to straight out enlist so that kinda closed the door on that

glovediedthisishismom

10:50

please listen

m10

10:51

@BulbasaurNoLikeCardio: indeed, it could but I could also just like visit on my own time. Though I have met like 10 or so JAG officers that got an Italian or French or Spanish wife while over in Europe so that is cool.

jackfrost11770

10:52

but i'd love to talk to you about that sometime if that's alright because i've been seriously considering INTEL and other similar roles but i know quite literally nothing about it and don't know where to start researching

m10

10:52

@glovediedthisishismom: oh my god that guy is a psychopath. Tjhat guy scares me.

m10

10:52

@jackfrost11770: Best bet if going law route is Law School to JAG to either Mead or Gordon imo then.

m10

10:53

NSA shit to start. If you can go straight into a GS job then you should go for it.

m10

10:54

https://www.usajobs.gov/Search?k=attorney

BulbasaurNoLikeCardio

10:54

@jackfrost11770: I have my undergrad in Intelligence and Terrorism and worked a good bit in the IC so I can answer some broad questions but not many direct because the nature of the field. If you want to go to law school and get your JD it really depends what intel work you would want to do and where you want to live.

jackfrost11770

10:56

thank you!! yeah i also know they always need STEM grads ofc, so i know i have that going for me as well

m10

10:58

Fuck now that Gary Gensler is resigning, this is like a dream job for me. Would love to do securities: https://www.usajobs.gov/job/819640900

m10

10:58

Best job on the wbesite rn.

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