LSDefine

Simple English definitions for legal terms

secured

Read a random definition: fiducial relationship

A quick definition of secured:

Secured: When you owe someone money, sometimes you have to give them something valuable as a promise that you will pay them back. This valuable thing is called security or collateral. If your debt is secured, it means that you have given something valuable to the person you owe money to, and they can take it if you don't pay them back.

A more thorough explanation:

Definition:

Secured (adjective) - refers to a debt or obligation that is supported or backed by security or collateral.

Examples:

A secured loan is a type of loan that requires the borrower to provide collateral, such as a car or house, to guarantee repayment.
A secured credit card is a credit card that requires a cash deposit as collateral, which is used to secure the credit line.

Explanation: When a debt or obligation is secured, it means that the lender has some form of security or collateral to fall back on in case the borrower is unable to repay the loan. This reduces the risk for the lender and allows them to offer lower interest rates and better terms to the borrower. The examples provided illustrate how different types of loans and credit cards can be secured by collateral, which provides a level of protection for the lender.

secundum vires inventarii | secured claim

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

JapaneseMacaque

20:55

MIAMI A

[] AromaticTroubledDormouse

20:55

How does one know if they are UR1 or UR2?

[] AromaticTroubledDormouse

20:56

CONGRATS MACAQUE!

JapaneseMacaque

20:57

TY

jackfrost11770

20:59

got a random stanford email and almost had a heart attack

jackfrost11770

20:59

ALSO CONGRATS!

texaslawhopefully

21:03

Congrats1!

Ratratta

21:15

Miami A, yall I'm so excited I could cry.

Ratratta

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

JazzyGazelle

23:35

guys. my notre dame address just went long is this good or bad

1a2b3c4d26z

23:37

Oooooo me too

JazzyGazelle

23:37

omg is this good or bad

Dkk

23:47

Idk if gender roles are gunna fix that then.

JazzyGazelle

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??

180SupremeWarrior

23:53

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

JazzyGazelle

0:59

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.

jackfrost11770

5:37

good morning lsd it is 5 am EST

jackfrost11770

5:37

also jazzy my ndls address went long ages ago i sadly do not think it means anything

jackfrost11770

5:38

my stanford address also went long LOL i think at most it's an indicator it's under review

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