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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 👎

WorthlessAttractiveZombie

9:44

to be fair it took them almost 2 months for me to go under review

soapy

9:44

Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7

WorthlessAttractiveZombie

9:45

I have not had a date change either for Mich but I've seen people get in without one so who knows

TheAdoptedOne

9:46

I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw

soapy

9:46

But do people get in without addresses going long?

WorthlessAttractiveZombie

9:46

it's tough to tell because a lot of people type out their addresses long to begin with

soapy

9:46

Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that

TheAdoptedOne

9:54

Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)

ClassyPleasantHeron

10:01

The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.

soapy

10:06

Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?

1a2b3c4d26z

10:06

Man

1a2b3c4d26z

10:07

Walkin to the bus

1a2b3c4d26z

10:07

What a good day to get into law school

ClassyPleasantHeron

10:11

@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.

soapy

10:12

Ahh, got it. Thank you for the insight!

ClassyPleasantHeron

10:14

You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.

soapy

10:15

I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.

jackfrost11770

10:22

i think it just indicates a change in status like under review or stages of review

jackfrost11770

10:23

my stanford address went long as soon as it was marked complete lmao

soapy

10:25

I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?

soapy

10:25

Also, can we send another LoR to a school that we've already applied to?

soapy

10:26

Or another essay?

FartButt790

10:30

i'll allow it

soapy

10:31

<3 thanks Fart Butt

1a2b3c4d26z

10:31

If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be

llama

10:32

cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs

BytchiestBunny

10:33

How else will they know we fuck

BytchiestBunny

10:33

Need to know aboot 6 pack abs

BytchiestBunny

10:33

How many 666 people apply?

BytchiestBunny

10:33

lolololol

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