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Simple English definitions for legal terms

padded-payroll rule

Read a random definition: casual negligence

A quick definition of padded-payroll rule:

The padded-payroll rule is a legal principle that states if someone issues a check or other financial document to a person who they do not actually intend to have any interest in the document, and that person's name is later forged, the forgery will still be considered valid and the document can be transferred to others. This is also known as the fictitious-payee rule. Essentially, it means that if someone creates a fake person or company to receive payments, and someone else forges that fake person's signature, the payment can still be considered legitimate.

A more thorough explanation:

The padded-payroll rule, also known as the fictitious-payee rule, is a principle in commercial law. It states that if a person issues a check or other commercial paper to a payee who they do not intend to have any interest in the instrument, a forgery of the payee's name will still be effective in passing good title to later transferees.

For example, if a company issues a paycheck to a fake employee, but the check is later stolen and the fake employee's name is forged, the person who receives the check from the thief may still have a legal claim to the funds.

This rule can be problematic because it allows for fraudulent activity to go undetected. However, it is important for businesses to take measures to prevent such fraud, such as verifying the identities of all payees and closely monitoring their accounts.

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18:16
I just noticed that UMich has the majority of their acceptances really early on. Does anyone know what happens to mid-November applicants? Are we just cooked?
TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
TGM
18:37
It’s above median, but I’m applying T6 with unimpressive softs, so even with a good LSAT it’s tough
texaslawhopefully
18:38
Yeah, then I would just wait as long as you can to send it
texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
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