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LSDefine

Simple English definitions for legal terms

successor

Read a random definition: prevaricator

A quick definition of successor:

A successor is someone who takes over the job, rights, or responsibilities of another person. This can happen when someone retires, resigns, or passes away. For example, when a teacher retires, a new teacher becomes their successor and takes over their classroom. A successor can also refer to a company that takes over the assets and duties of another company. There are different types of successors, such as a particular successor who takes over a specific piece of property, or a universal successor who takes over all the rights and charges of a deceased person's estate.

A more thorough explanation:

A successor is a person or entity that takes over the position, rights, responsibilities, or place of another. This can happen in various situations, such as:

  • When a new president is elected, they become the successor of the previous president.
  • When a company merges with another company, the resulting corporation becomes the successor of the original companies.
  • When a person inherits property, they become the successor of the previous owner.

There are different types of successors, including:

  • Particular successor: One who succeeds to rights and obligations that pertain only to the property conveyed.
  • Singular successor: One who succeeds to a former owner's rights in a single piece of property.
  • Statutory successor: One who succeeds to the assets of a corporation upon its dissolution according to the statute of the state of incorporation applicable at the time of the dissolution.
  • Universal successor: One who succeeds to all the rights and powers of a former owner, as with an intestate estate or an estate in bankruptcy.

For example, if a person inherits a house from their deceased parent, they become the particular successor of that property. If a company goes bankrupt and its assets are distributed to its shareholders, the shareholders become the statutory successors of the company's assets. If a person is appointed as the executor of an estate, they become the universal successor of the deceased person's assets and liabilities.

successive-writ doctrine | successor agent

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awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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