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LSDefine

Simple English definitions for legal terms

passive debt

Read a random definition: edictal interdict

A quick definition of passive debt:

Passive debt is money that someone owes to another person or entity, but there is no interest charged on it. It is a type of liability that can be either a specific amount of money owed or the total amount of all outstanding debts. Debt can also be in the form of goods or services owed to someone else. There are different types of debt, such as secured debt, unsecured debt, and short-term debt. Some debts may be discharged through bankruptcy, while others may be considered nondischargeable.

A more thorough explanation:

Passive debt is a type of debt that is interest-free, as agreed upon by the debtor and creditor. It is a liability on a claim, which means a specific sum of money that is due by agreement or otherwise. Passive debt is the opposite of active debt, which is a debt due to another person.

Example: John owes $5,000 to his friend Tom. They agree that John will pay back the debt without any interest. This is an example of passive debt.

Passive debt is beneficial for debtors as they do not have to pay any additional interest on the borrowed amount. However, creditors may not prefer passive debt as they do not earn any interest on the loaned amount.

passive conduct | passive duty

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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.
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.
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