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Simple English definitions for legal terms

wealth

Read a random definition: factor's lien

A quick definition of wealth:

WEALTH: Wealth means having a lot of something or having a lot of money. When someone has a lot of money, we say they are wealthy or rich. Wealth maximization is when a change in how resources are used benefits the winner more than it harms the loser. This is called Kaldor-Hicks efficiency or potentially Pareto superior.

A more thorough explanation:

Definition: Wealth refers to a large quantity of something or the state of having abundant financial resources, also known as affluence.

Example: A person who owns multiple properties, expensive cars, and has a lot of money in the bank is considered wealthy.

Explanation: The example illustrates the definition of wealth as having abundant financial resources. The person in the example has a large quantity of assets and money, which makes them wealthy.

Additional Example: A company that has a lot of valuable patents and trademarks is considered wealthy because they have a large quantity of valuable intellectual property.

Explanation: This example illustrates the first definition of wealth as a large quantity of something. In this case, the company has a large quantity of valuable intellectual property, which makes them wealthy.

Related Term: Wealth Maximization refers to a situation where a change in resource allocation benefits the winner more than it harms the loser. This situation is described as Kaldor-Hicks efficient or potentially Pareto superior.

wealreaf | weapon

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

WorthlessAttractiveZombie

9:35

Jack's just tweaking on LSD no biggie

jackfrost11770

9:36

to be fair this accurately represents my mental state

KnowledgeableRitzyWasp

9:37

election day psychosis coming in hot (fordham)

jackfrost11770

9:38

usc pls pull through .....

jackfrost11770

9:38

i literally just need one A so i can relax before my ED decision

WorthlessAttractiveZombie

9:38

oh that's right USC might release

soapy

9:43

USC still has not looked at my app

WorthlessAttractiveZombie

9:43

when did you submit soapy?

soapy

9:44

10/16

WorthlessAttractiveZombie

9:44

to be fair it took them almost 2 months for me to go under review

soapy

9:44

Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7

WorthlessAttractiveZombie

9:45

I have not had a date change either for Mich but I've seen people get in without one so who knows

TheAdoptedOne

9:46

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

TheAdoptedOne

9:54

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.

jackfrost11770

10:22

i think it just indicates a change in status like under review or stages of review

jackfrost11770

10:23

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?

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