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LSDefine

Simple English definitions for legal terms

out-of-pocket loss

Read a random definition: Codex Repetitae Praelectionis

A quick definition of out-of-pocket loss:

Out-of-pocket loss is when you lose money unexpectedly. This can happen when something you own loses value or gets damaged, or when you have to pay for something unexpected like a car accident. If you have insurance, they may cover some of the cost of the loss. But if you don't have insurance, you will have to pay for the loss out of your own pocket.

A more thorough explanation:

Out-of-pocket loss refers to a financial loss that an individual or business incurs due to an unexpected event or risk. This loss is not covered by insurance or any other means of compensation, and the individual or business must bear the cost themselves.

For example, if a person's car is stolen and they do not have comprehensive insurance coverage, they will have to pay for the cost of the car themselves. This is an out-of-pocket loss.

Another example is if a business invests in a new product that fails to sell, resulting in a loss of money. This is also an out-of-pocket loss.

Out-of-pocket losses can be significant and can have a negative impact on an individual's or business's financial situation. It is important to plan for and mitigate these risks as much as possible.

out of order | out-of-pocket rule

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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
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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