19:03
Honestly, idk what I would call myself these days. Will probably not know until I can reflect on this part of my life which will be idk, in like 5 years when I am 32.
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Simple English definitions for legal terms
strip
Read a random definition: legally liable
A quick definition of strip:
Term: STRIP
Definition: STRIP refers to the process of separating and selling a bond's coupons and corpus separately. This means that the interest payments and the principal amount of the bond are sold as two separate securities. It is also used to describe the act of a tenant who unlawfully takes something from the land they are renting.
A more thorough explanation:
Definition: STRIP refers to two different things:
- The act of separating and selling a bond's coupons and corpus separately.
- The act of a tenant who, holding less than the entire fee in land, spoils or unlawfully takes something from the land.
Example 1: When a bond is issued, it comes with regular interest payments (coupons) and a final payment of the principal amount at maturity. However, investors can choose to separate these two components and sell them separately. This process is called STRIP or Separate Trading of Registered Interest and Principal of Securities.
Example 2: Let's say a tenant rents a house but only has access to the backyard. If the tenant goes into the front yard without permission and takes flowers from the garden, that would be an example of STRIP in the context of landlord-tenant law.
Both examples illustrate the concept of STRIP, which involves separating something into its component parts and dealing with them separately. In the case of bonds, investors can separate the interest payments from the principal amount and trade them separately. In the case of landlord-tenant law, a tenant with limited access to land takes something that they are not entitled to, separating it from the rest of the property.