Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

personal asset

Read a random definition: overdraft

A quick definition of personal asset:

A personal asset is something that you own and has value. It can be anything from money in your bank account to your car or house. When you add up all your personal assets, it's called your net worth. Some assets, like cash or stocks, can be easily turned into money, while others, like your house, may take more time and effort to sell. It's important to keep track of your personal assets so you know how much you're worth and can plan for your future.

A more thorough explanation:

A personal asset is something that you own and has value. It can be anything from cash, inventory, equipment, real estate, accounts receivable, and goodwill. These are all items that can be listed on a balance sheet to show what you own.

For example, if you own a car, that is a personal asset. If you have money in a savings account, that is also a personal asset. If you own a house, that is a personal asset too. All of these things have value and can be used to pay off debts or sold for money.

Personal assets can also be used to evaluate the financial condition of an insurance company. For example, if an insurance company has a lot of assets, it is considered financially stable and can pay out claims to its customers.

Overall, personal assets are things that you own and have value. They can be used to pay off debts or sold for money. Examples include cars, houses, and savings accounts.

personal action | personal-capacity suit

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.