Legal Definitions - legal debt

A 'reasonable person' is a legal fiction I'm pretty sure I've never met.

✨ Enjoy an ad-free experience with LSD+

Definition of legal debt

Legal debt refers to a specific sum of money that is owed by agreement or otherwise. It can also refer to the aggregate of all existing claims against a person, entity, or state. Legal debt can be a monetary or non-monetary obligation that one person owes another, such as goods or services.

Examples of legal debt include:

A loan that needs to be repaid with interest
An unpaid bill for goods or services received
An obligation to provide a certain amount of goods or services to another party
A court-ordered judgment against a person or entity

These examples illustrate legal debt because they all involve a specific obligation to pay or provide something to another party. Legal debt can be enforced through legal action, such as a lawsuit or court-ordered garnishment of wages or assets.

I object!... to how much coffee I need to function during finals.

✨ Enjoy an ad-free experience with LSD+

Simple Definition

Legal debt refers to a specific amount of money that someone owes to another person or entity. It can also refer to all the money that someone owes in total. Debt can be for goods or services, and it can be based on a contract or implied agreement. If someone owes a legal debt, they can be taken to court to pay it. There are different types of debt, such as secured debt (backed by collateral) and unsecured debt (not backed by collateral).

legal death | legal defense Read a random term: regular life policy

Where you see wrong or inequality or injustice, speak out, because this is your country. This is your democracy. Make it. Protect it. Pass it on.

✨ Enjoy an ad-free experience with LSD+

Make crime pay. Become a lawyer.

✨ Enjoy an ad-free experience with LSD+