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Simple English definitions for legal terms

out of the money

Read a random definition: Fauntleroy doctrine

A quick definition of out of the money:

When someone owes money to another person or company, but they don't have enough money or assets to pay it back, they are considered "out of the money." This means that the creditor will not be able to collect the money they are owed.

A more thorough explanation:

Definition: When a creditor is unpaid because the debtor does not have enough assets to pay the claim.

Example: If you borrow money from a bank and are unable to pay it back, the bank may consider your loan to be out of the money.

Explanation: This means that the bank will not receive the money that was borrowed because the borrower does not have enough assets to pay it back. The bank is considered to be "out of the money" in this situation.

Definition: When someone is outside of the state they normally reside in.

Example: If you live in California but are currently visiting New York, you are out of the state.

Explanation: This means that you are not currently in the state that you normally reside in. In this example, the person normally resides in California but is currently visiting New York, so they are out of the state.

Definition: When something is done after a deadline or when it is too late.

Example: If you try to file a lawsuit after the statute of limitations has expired, the lawsuit is considered to be out of time.

Explanation: This means that the lawsuit cannot be filed because it is too late. In this example, the statute of limitations has expired, so the lawsuit is out of time and cannot be filed.

out-of-pocket rule | output

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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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