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Simple English definitions for legal terms

strong-arm clause

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A quick definition of strong-arm clause:

A strong-arm clause is a rule in bankruptcy law that lets a trustee cancel a security interest if it wasn't properly recorded when the bankruptcy case began. This means that if someone owes money and used something as collateral, like a car or a house, but didn't follow the correct legal steps to make sure the creditor had a right to that property, the trustee can take it away and use it to pay off the debts.

A more thorough explanation:

A strong-arm clause is a provision in the Bankruptcy Code that gives the bankruptcy trustee the power to cancel a security interest that is not properly recorded when the bankruptcy case is filed. This means that if a creditor has a security interest in a debtor's property, but that interest is not legally recorded, the trustee can cancel it and sell the property to pay off the debtor's debts.

Let's say that John borrows money from a bank to buy a car. The bank takes a security interest in the car, which means that if John doesn't pay back the loan, the bank can repossess the car. However, the bank forgets to properly record the security interest with the state. Later, John files for bankruptcy. The trustee can use the strong-arm clause to cancel the bank's security interest and sell the car to pay off John's debts.

Another example could be a landlord who fails to properly record a security interest in a tenant's property. If the tenant files for bankruptcy, the trustee can use the strong-arm clause to cancel the landlord's security interest and sell the property to pay off the tenant's debts.

stripper well | strongly corroborated

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
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
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
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??
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
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.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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