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LSDefine

Simple English definitions for legal terms

tontine

Read a random definition: Materialman's Lien

A quick definition of tontine:

A tontine is a way for people to invest their money together. They each put some money into a big pot and get paid some money back every year. But, when someone dies, their share of the money goes to the other people still alive in the group. This keeps happening until only a few people are left, and then the tontine ends.

A more thorough explanation:

Definition: Tontine is an investment plan where people buy shares in a common fund and receive a regular payment. The payment increases every time a participant dies. When a participant dies, their share is split between the surviving shareholders in the pool. The investment ends when the number of surviving shareholders reaches a previously agreed on, small number.

Example: Let's say there are 10 people who invest in a tontine. Each person puts in $10,000. They agree that they will receive a payment every year. The payment starts at $1,000 per year and increases by $100 every time someone dies. If one person dies, the payment becomes $1,100 per year. If two people die, the payment becomes $1,200 per year, and so on. When there are only two people left, they split the remaining money.

Explanation: This example shows how a tontine works. The investors put their money into a common fund and receive a regular payment. The payment increases every time someone dies. When there are only two people left, they split the remaining money. This is how a tontine investment comes to an end.

Toll v. Moreno | too big to fail

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I think she will too lol
WorthlessAttractiveZombie
14:27
since you're from the future, will fordham release today
14:28
no
WorthlessAttractiveZombie
14:28
fuck alright
14:28
not this week
14:28
dont even get ur hopes up u fool im from the year 2076
TheMidwestMonger
14:28
I'm terrified with how the world will react to Trump losing
WorthlessAttractiveZombie
14:28
damn, next question: should i eat the cheese that's been in my fridge for 3 weeks?
14:28
im pretty sure the world is gonna rejoice??
14:29
yes it is the key to immortality
TheMidwestMonger
14:29
Sorry, I meant the far right and their reaction lol
I live in alabama if she wins it's gonna be crazy here
14:30
same as last time whine that it was rigged go to court lose every time
good thing im bouncing next year
oh yeah
JumpySubsequentDolphin
14:31
why won’t ASU send my scholly info ☹️
WorthlessAttractiveZombie
14:31
they sent mine about 3 hours after i got the initial acceptance video thing
I just wanna hear back from them
14:31
the adcomm office got there at 10 am took a two hour lunch at 12 and left at 3:30 -- trust me im from the year 2076
lol
WorthlessAttractiveZombie
14:32
lavender, they should usually get back within a month of going complete
okie doke, thank u!
JumpySubsequentDolphin
14:35
@WorthlessAttractiveZombie: good to know! I thought I missed SMTH bc someone told me they got their admissions packet before the video lol
BulbasaurNoLikeCardio
14:35
I got school that have me under review for over a month... just hope it puts me in their first wave of As
TackyProudYogurt
14:39
Anyone know if asu releases decisions all at once or if they trickle out throughout the day?
WorthlessAttractiveZombie
14:39
I'm pretty sure it's a trickle because they send you a personalized video too
TackyProudYogurt
14:40
Ah okay so I do need to continue refreshing my email every 10 seconds
WorthlessAttractiveZombie
14:40
I would say potentially. I received my email/video around noon eastern time, and I've seen people get it past 5pm eastern
coolgirl
14:40
Does anyone know if pending decision means I’ll get a response soon? My status changed
WorthlessAttractiveZombie
14:41
oooh which school?
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