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LSDefine

Simple English definitions for legal terms

title member

Read a random definition: NASDAQ

A quick definition of title member:

A title member is a person whose name appears in the name of a partnership. They are also known as a named partner. A partnership is a business where two or more people work together and share the profits and risks. There are different types of partners, such as a general partner who is responsible for the partnership's debts and a limited partner who only receives profits but does not manage the business. A title member is important because their name is part of the partnership's identity.

A more thorough explanation:

A title member is a partner whose name appears in the name of the partnership. For example, Mr. Tibbs is a title member in the accounting firm of Gibbs & Tibbs.

This means that the partner has a significant role in the partnership and is responsible for the business's profits and losses. They also share the risks and benefits of the venture with other partners.

Other types of partners include:

  • General partner: A partner who takes part in the daily operations of the business, shares in the profits and losses, and is personally responsible for the partnership's debts and liabilities.
  • Limited partner: A partner who receives profits from the business but does not take part in managing the business and is not liable for any amount greater than their original investment.
  • Silent partner: A partner who shares in the profits but has no active voice in management of the firm and whose existence is often not publicly disclosed.

For example, a limited partner may invest money in a business but not have any say in how the business is run. A silent partner may invest money and share in the profits, but their involvement in the business is kept secret.

title jurisdiction | title of entry

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I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
ClassyPleasantHeron
10:01
The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.
soapy
10:06
Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?
1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
i think it just indicates a change in status like under review or stages of review
my stanford address went long as soon as it was marked complete lmao
soapy
10:25
I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?
soapy
10:25
Also, can we send another LoR to a school that we've already applied to?
soapy
10:26
Or another essay?
10:30
i'll allow it
soapy
10:31
<3 thanks Fart Butt
1a2b3c4d26z
10:31
If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be
10:32
cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs
How else will they know we fuck
Need to know aboot 6 pack abs
How many 666 people apply?
lolololol
soapy
10:34
Ah that's frightening
@triplethread
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