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A 'reasonable person' is a legal fiction I'm pretty sure I've never met.
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Legal Definitions - outstanding
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Definition of outstanding
Outstanding, adjective
- Refers to debts or bills that have not been paid yet.
- Refers to shares of a company that have been publicly issued and sold.
- Outstanding debts: If you owe money to someone and you haven't paid it back yet, that debt is considered outstanding.
- Outstanding shares: When a company sells shares of stock to the public, those shares are considered outstanding until they are bought back or sold.
The examples illustrate the two different meanings of the word "outstanding." In the first example, "outstanding debts" refers to money that is owed but has not been paid yet. In the second example, "outstanding shares" refers to shares of a company that have been sold to the public and are still in circulation.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Simple Definition
Outstanding: When someone owes money and hasn't paid it back yet, we call it outstanding debt. It's like when you borrow a toy from a friend and haven't returned it yet. The toy is still outstanding. But outstanding can also mean something that has been sold to the public, like shares of a company.
The end of law is not to abolish or restrain, but to preserve and enlarge freedom.
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