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Simple English definitions for legal terms

scrap value

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A quick definition of scrap value:

Scrap value is the amount of money you can get for something when it's no longer useful. For example, if you have an old car that can't be driven anymore, you might be able to sell it for scrap metal. Scrap value is also called salvage value. It's different from the original value of the thing when it was new or in good condition.

A more thorough explanation:

Definition: The amount of money that can be obtained from selling an asset after it has become useless to the owner.

Example: A company has a machine that is no longer functioning and cannot be repaired. The scrap value of the machine is the amount of money the company can get by selling the machine for parts or as scrap metal.

This example illustrates how scrap value is the residual value of an asset after it has reached the end of its useful life. It is the amount of money that can be obtained from selling the asset for its parts or materials.

scrambling possession | scratching the ticket

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

windyMagician

20:07

YouTube is recommending sam hyde to me thanks to dk

Dkk

20:07

Lmfao, that would be cool but nah. Told me about him in a super secret leaked video called "Dear Elon"

lilypadfrog

20:08

I almost saw a picture of Nick Mullen’s penis once

Dkk

20:09

Classic Season 1/2 cumtown leak.

lilypadfrog

20:09

He sent it to my friend

BulbasaurNoLikeCardio

20:09

Well I look like a bum, use to my work computer not allowing us to send emails without a subject and sent one without a subject to UTK. Blame the newborn baby brain

JohnLennon

20:10

@BulbasaurNoLikeCardio: wow you are really impressive applying to law school as a newborn baby

JohnLennon

20:10

.

Dkk

20:11

@lilypadfrog: Speaking of Destiny and Nick. Still seems like Nick is leaking graphic content: https://x.com/brandonpagano/status/1881468884798365804

lilypadfrog

20:11

I read that as you sent them a pic of the baby for a second

windyMagician

20:11

kjds are getting crazier

texaslawhopefully

20:11

Sorry to interrupt this scintillating conversation but uchicago needs to release tmrw 😭

JohnLennon

20:11

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JohnLennon

20:12

sorry

windyMagician

20:13

are we not going to get context on nick mullen sending nudes to your friend

lilypadfrog

20:13

he was sexting anyone back in the day and she’s cute

windyMagician

20:14

awww

BulbasaurNoLikeCardio

20:14

New born baby brain is what you get when you can only sleep in small increments for days straight lol and if I sent them a picture of her I would of gotten a second A so she can attend full ride

Dkk

20:18

@lilypadfrog: lol desperate guy

Trismegistus

20:18

tex i need an A tomorrow from chicago

texaslawhopefully

20:18

Me and you both

texaslawhopefully

20:19

If I get an A from Chicago, I feel like my cycle will have turned out pretty great for my goals

texaslawhopefully

20:19

If I don’t, well…I’ll be back here next year rip

ImpartialLion

20:20

Wouldn't go to Cornell? Also, what's the competitiveness expectation for next cycle?

Trismegistus

20:22

i will be happier than a pig in shit man

texaslawhopefully

20:22

I want to clerk, and Cornell has a 5 percent clerk rate

texaslawhopefully

20:22

Fed clerk

texaslawhopefully

20:23

Chicago is at 25 percent. It’s just such a massive difference I don’t think it’s worth it to go elsewhere besides HYSC and maybe UVA

ImpartialLion

20:26

That makes sense. Was looking into Cornell clerking stats https://www.lawschool.cornell.edu/careers/judicial-clerkships/

ImpartialLion

20:27

U kno even tho their circuit numbers don't compare to other schools, those #s are better than expected tbh

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