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Simple English definitions for legal terms

Statute of Elizabeth

Read a random definition: decree of distribution

A quick definition of Statute of Elizabeth:

Statute of Elizabeth: A law made in 1705 that helps protect people who lend money to others. It says that if someone owes money to another person and tries to give away their things or money to avoid paying back the debt, that action is not allowed. This law helps make sure that people who lend money are treated fairly and can get their money back if someone tries to cheat them.

A more thorough explanation:

Definition: The Statute of Elizabeth was a law passed in 1571 in England that aimed to prevent fraudulent conveyances made by debtors to avoid paying their creditors. It was also known as the Bankrupts Act of 1705, which contained similar provisions against such actions.

Example: If a person owes money to their creditors and they transfer their assets to a family member or friend for little or no money, this could be considered a fraudulent conveyance under the Statute of Elizabeth. The law allows creditors to challenge such transfers and recover the assets to pay off the debts owed to them.

Explanation: The Statute of Elizabeth was designed to protect creditors from debtors who tried to avoid paying their debts by transferring their assets to others. The law allows creditors to challenge such transfers and recover the assets to pay off the debts owed to them. This ensures that creditors are not left empty-handed and that debtors cannot cheat their way out of paying their debts.

statute of distribution | Statute of Frauds and Perjuries

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General

General chat about the legal profession.
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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
Dkk
1:27
Indeed, indeed.
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