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LSDefine

Simple English definitions for legal terms

Trust Indenture Act

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A quick definition of Trust Indenture Act:

The Trust Indenture Act is a law that helps keep people who invest in certain types of bonds safe. It makes sure that the people who are in charge of the bonds are independent and that the rules for the bonds are fair. The law was made in 1939 and is still in place today.

A more thorough explanation:

The Trust Indenture Act is a federal law that was passed in 1939 to protect investors who purchase certain types of bonds. The law requires that:

  1. The Securities and Exchange Commission (SEC) approves the trust indenture
  2. The indenture includes certain protective clauses and excludes certain exculpatory clauses
  3. The trustees are independent of the issuing company

For example, if a company wants to issue bonds to raise money, they must create a trust indenture that outlines the terms of the bond. The Trust Indenture Act requires that the SEC approves this indenture to ensure that it is fair and protects the investors. The indenture must also include certain clauses that protect the investors, such as a clause that requires the company to make timely interest payments. Additionally, the trustees who oversee the bond must be independent of the company to prevent any conflicts of interest.

trust indenture | trust indorsement

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letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
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