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Simple English definitions for legal terms

Suitors' Deposit Account

Read a random definition: drungarius

A quick definition of Suitors' Deposit Account:

Suitors' Deposit Account: A special bank account where people who go to court to settle a legal dispute can deposit their fees. The money is invested in government securities that earn interest, unless the person who deposited the money wants it invested differently. This account was created by a law called the Chancery Act of 1872.

A more thorough explanation:

A Suitors' Deposit Account is an account where fees paid by individuals who file a case in the Court of Chancery are deposited. According to the Chancery Act of 1872, these fees are invested in government securities that earn an interest of 2% per annum. The investment is made on behalf of the individual who paid the fees, unless they instruct otherwise.

  • John filed a case in the Court of Chancery and paid a fee of $500. This fee was deposited in a Suitors' Deposit Account and invested in government securities that earned an interest of 2% per annum. If John does not give any instructions, the interest earned will be credited to his account.
  • Emily filed a case in the Court of Chancery and paid a fee of $1000. She instructed that the fees should not be invested in government securities but should be kept in the account as cash. In this case, the fees will not earn any interest.

The examples illustrate how the fees paid by individuals who file a case in the Court of Chancery are deposited in a Suitors' Deposit Account and invested in government securities. The interest earned on the investment is credited to the account of the individual who paid the fees, unless they instruct otherwise.

suitor | Suitors' Fee Fund

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texaslawhopefully
17:06
I was a one issue voter. My one fucking issue was that Trump encouraged an insurrection.
texaslawhopefully
17:07
That's all anyone should've needed.
17:07
i am a 1 issue voter: national debt.
jackfrost11770
17:07
THERES A COP FUNERAL AND NOW THE BUSES ARENT RUNNING TO MY PLACE SO I HAVE TO WALK IN THE FREEZING COLD HOME
texaslawhopefully
17:07
Not to mention that he's completely thrown away liberalism and classic western political philosophy, but yk your eggs will be cheaper so it's worth it
how bad are these tariffs gonna get for us everyday consumers?
@jackfrost11770: FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUu
jackfrost11770
17:08
FUCK THE NYPD
WASP HAHAHAHAHHA
texaslawhopefully
17:08
Estimates are about 4k fruitbat
YRDSL
17:08
im a 1 issue voter - if i want someone to be elected i vote for them
woof
texaslawhopefully
17:08
I've seen some that could be as high as 7k though
17:08
@jackfrost11770: ya prolly don't buy any lotto tickets tonite
get on that trump coin before the rug pull lol
Dkk
17:09
@BigStrongBug: I don't consider myself a one issue voter but if I had to pick one it would be gender relations.
i am a one issue voter for the economy, which is why i voted harris
texaslawhopefully
17:10
Here's a fairly well respected estimate fruitybat: The proposed tariffs could cost consumers an additional $2,500 to $7,600 a year per household, according to estimates, said Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation.
i am a voter so i voted
17:11
Lol what does gender relations mean
17:11
Like are you anti gay marriage?
texaslawhopefully
17:11
@Dkk: So you care about gender relations over the Constitution, institutional stability, the economy, political norms, etc.?
blue collar trump voters are gonna blame anything but him anyway when the price of their household consumption goes through the roof. I wonder how they'll spin that narrative.
17:11
Or are you an all inclusive hater and include trans folks too
texaslawhopefully
17:12
Even if you have conservative social values you still shouldn't like Trump lol, but that's a whole diff convo
I love when people prefer putting not talking about gender in schools at the top of the agenda instead of dealing with school shootings
this is going to blow your mind but once you realize women and men are more similar than different you will drown in pussy or dick
17:12
@HopefullyInLawSchool: $45k @ KS is really good. $145k is to attend it is not a bad deal
facts knowledgeable
Also love how he put an EO to leave the Paris climate agreement in the midst of the LA wildfires and places who haven’t gotten snow in 15 years now getting storms
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