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LSDefine

Simple English definitions for legal terms

unsecured claim

Read a random definition: involuntary euthanasia

A quick definition of unsecured claim:

An unsecured claim is a type of claim where a creditor does not have any right to take the debtor's property if they fail to pay their debt. It is a demand for money or property that is not backed by any collateral. This means that if the debtor cannot pay, the creditor cannot take anything from them. It is the opposite of a secured claim, where the creditor has a right to take the debtor's property if they fail to pay their debt.

A more thorough explanation:

An unsecured claim is a demand for money, property, or a legal remedy that a creditor asserts against a debtor, but the creditor does not have a lien or a right of setoff against the debtor's property. This means that if the debtor cannot pay the debt, the creditor cannot seize any of the debtor's assets to satisfy the debt.

Examples of unsecured claims include:

These examples illustrate the definition of unsecured claims because in each case, the creditor does not have any collateral to secure the debt. If the debtor defaults on the debt, the creditor cannot take possession of any property to satisfy the debt. Instead, the creditor may have to pursue legal action to collect the debt, which can be more difficult and time-consuming than collecting a secured debt.

unsecured bond | unsecured creditor

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im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
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