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A lawyer is a person who writes a 10,000-word document and calls it a 'brief'.
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Legal Definitions - indebtedness
A lawyer is a person who writes a 10,000-word document and calls it a 'brief'.
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Definition of indebtedness
Definition: Indebtedness is the state of owing money or something that is owed, like a debt.
Examples:
- John's indebtedness to the bank was $10,000.
- The company's indebtedness to its suppliers was causing financial problems.
These examples illustrate how indebtedness refers to owing money or having a debt. In the first example, John owes $10,000 to the bank, which means he is in a state of indebtedness. In the second example, the company owes money to its suppliers, which is a form of indebtedness that can cause financial difficulties.
The law is a jealous mistress, and requires a long and constant courtship.
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Simple Definition
Indebtedness: When someone owes money to someone else, they are said to be in a state of indebtedness. This means they have a debt that needs to be paid back. It's like borrowing money from a friend and promising to pay them back later. The money you owe is your indebtedness.
The end of law is not to abolish or restrain, but to preserve and enlarge freedom.
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