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LSDefine

Simple English definitions for legal terms

solvent debtor

Read a random definition: delivered ex quay

A quick definition of solvent debtor:

A solvent debtor is someone who owes money to another person or entity but has enough property to cover all of their outstanding debts. This means that if a creditor takes legal action against them, they can enforce a judgment and collect the money owed. It is the opposite of an insolvent debtor, who does not have enough assets to pay off their debts.

A more thorough explanation:

Definition: A solvent debtor is a person who owes an obligation to another, especially an obligation to pay money, but owns enough property to cover all outstanding debts and against whom a creditor can enforce a judgment.

Example: John owes $10,000 to his creditor, but he owns a house worth $100,000 and has $50,000 in savings. John is considered a solvent debtor because he has enough assets to pay off his debt.

This example illustrates the definition of a solvent debtor. John owes money to his creditor, but he has enough assets to cover his debt. Therefore, his creditor can enforce a judgment against him to collect the debt.

solvendum in futuro | solvere

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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.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
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