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LSDefine

Simple English definitions for legal terms

pari passu

Read a random definition: affirmative action

A quick definition of pari passu:

Pari passu means that things are done equally and fairly, without giving any preference to one over the other. For example, if a company goes bankrupt, all the creditors will receive their share of the money pari passu, which means they will get an equal amount of money without any preference given to one creditor over the other.

A more thorough explanation:

Pari passu is a Latin term that means "by equal step." It refers to the idea of treating things or people equally and without preference. In financial terms, it means that creditors or investors will receive their share of a company's assets or profits proportionally and without any preference given to one over the other.

For example, if a company goes bankrupt and has to distribute its assets to its creditors, they will receive their share pari passu. This means that each creditor will receive a portion of the assets that is proportional to the amount they are owed, without any preference given to one creditor over another.

Another example is in the case of preferred stock and common stock. If a company issues both types of stock, the dividends paid to each type of stock will be pari passu. This means that the dividends will be paid out proportionally to the number of shares held, without any preference given to one type of stock over the other.

These examples illustrate the concept of pari passu, which is about treating things or people equally and without preference. In financial terms, it ensures that creditors and investors are treated fairly and receive their share of a company's assets or profits in a proportional and unbiased manner.

parimutuel betting | pari ratione

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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.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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