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Simple English definitions for legal terms

vergens ad inopiam

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A quick definition of vergens ad inopiam:

Vergens ad inopiam: A Latin term that means "verging on poverty." In civil law, it refers to a situation where a debtor is at risk of becoming insolvent. When a creditor knows that their debtor is vergens ad inopiam, they can take certain legal measures to protect their interests. For example, they can obtain a precept of arrestment on a bill before it becomes due, which allows them to arrest any funds due to the debtor. However, this is only allowed as a protective measure, and the creditor cannot use the arrested funds until the bill falls due. The proof of the debtor's vergens ad inopiam status will vary depending on the circumstances of each case.

A more thorough explanation:

Vergens ad inopiam

Vergens ad inopiam means "verging on poverty" in Latin. In civil law, it refers to a situation where someone is close to becoming insolvent, or unable to pay their debts. When a debtor is clearly vergens ad inopiam, a creditor may legally take certain measures to protect their interests that would not otherwise be allowed. For example, if a debtor owes money under a bill, the creditor may obtain a precept of arrestment on the bill before it becomes due, which allows them to arrest any funds due to the debtor. However, the creditor cannot use the arrested funds until the bill falls due. The fact that someone is vergens ad inopiam can be inferred from different circumstances in different cases, and the proof of that fact will also vary.

Example 1: John owes money to his creditor, but he has lost his job and is struggling to make ends meet. His creditor knows that John is vergens ad inopiam and decides to obtain a precept of arrestment on the bill before it becomes due, to protect their interests.

Example 2: Sarah is a small business owner who is vergens ad inopiam due to the COVID-19 pandemic. Her landlord knows about her situation and decides to work out a payment plan with her, instead of evicting her for non-payment of rent.

These examples illustrate how being vergens ad inopiam can affect someone's ability to pay their debts, and how creditors may take legal measures to protect their interests in such situations.

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Thanks! I had almost forgotten to do that.
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HopefullyInLawSchool
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just in case anyone forgot
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i’m a big fan of you cross-promoting your Reddit posts
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IS THAT HOPEFULLYS REDDIT
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soap
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Nearly everyone who interviewed with me already got into Cornell. WL inbound T-T
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no soapy i believe in you sm
soap
14:00
My Cornell portal changed
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It totally dropped any references to reviewing my interview.
soap
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Tex, if you're on here, has your Cornell portal also changed?
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All the substatuses disappeared
triplethread
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UGH i got a washu email and i was so excited
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just an info session email sigh
snow
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i unsubbed from those lol
triplethread
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i wonder if i should go
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I love washu info sessions and how everyone in them wants to redact both LSAT and GPA
14:12
i believe in u soap!!!
soap
14:13
It's back to all the generic "thank you for your interest in Cornell" stuff as opposed to the "we are reviewing your interview" -- all signs point to utterly cooked
PiquantHabitualVole
14:15
Is it a bad sign WashU hasn't gotten back to me yet -- I applied ED on Nov. 1, interviewed Nov. 6...
shaquilleoatmeal
14:16
Damn BU wave today ?
soap
14:16
WashU's really picky about medians, so you're OK if you are either above their GPA median or LSAT median, but if not, it may be more of an uphill battle
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