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Simple English definitions for legal terms

partner's lien

Read a random definition: immunity from prosecution

A quick definition of partner's lien:

A partner's lien is a legal right that a partner has to use the partnership's property to pay off any debts that the partnership owes. This means that if the partnership owes money, the partner can use the partnership's assets to pay off those debts. Additionally, if a partner is owed money by the partnership, they can deduct that amount from what they would receive for their share of the partnership's profits. Essentially, a partner's lien gives a partner some protection in case the partnership runs into financial trouble.

A more thorough explanation:

A partner's lien is a legal right that allows a partner to use the partnership property to pay off the debts of the partnership. This means that if the partnership owes money to creditors, the partner can use the partnership's assets to pay off those debts.

Additionally, a partner's lien allows a partner to deduct any money owed to the partnership by other partners from their share of the profits. For example, if one partner owes the partnership money, that amount can be deducted from their share of the profits before they receive their payment.

Here's an example: John and Jane are partners in a small business. The business owes $10,000 to a supplier. John has also borrowed $5,000 from the partnership and has not yet paid it back. When the business makes a profit of $20,000, John's share would normally be $10,000 and Jane's share would be $10,000. However, because of the partner's lien, John's $5,000 debt to the partnership would be deducted from his share, leaving him with only $5,000. The remaining $5,000 would be used to pay off the debt to the supplier.

In summary, a partner's lien is a legal right that allows a partner to use the partnership's assets to pay off debts and deduct any money owed to the partnership by other partners from their share of the profits.

partnership insurance | part payment

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@OppositeEarlyCorgi: yep, fuckin sucks. My community college is scalled down by LSAC so I go from a 3.77 to a 3.44 or some shit like that.
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My community college didn't have the A+ grade and only A's at 4.0 so there are classes I know I got an A+ in and should have a 4.0 but LSAC sees it as a 3.7 or whatever.
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My bad, should have had 4.33 but LSAC sees it as 4.0
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Bunny ur girl dasha is simping hard for trump on the TL
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likely thing for dasha nekrasova to do
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guys are you so excited for me to not be unemployed anymore?
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u can have my employment i dont want it
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i actually love my job so much that I was doing it for free and then they offered to pay me in exchange for me working full-time
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stolen unemployment valor
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i would be truly unemployed for the lover of the game
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i know u would be
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try that trade in thing they let u do at Verizon and at&t
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so new phone is cheaper
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glove are u doing score release day countdown?
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i am i know u did so good bunny
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Totally unrelated to law admissions: today is Talk Like A Pirate Day. Annoy your mateys!
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every day is talk like a pirate day if you want it to be
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