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It is better to risk saving a guilty man than to condemn an innocent one.
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Legal Definitions - outstanding
Law school is a lot like juggling. With chainsaws. While on a unicycle.
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Definition of outstanding
Outstanding, adjective
- Refers to debts or bills that have not been paid yet.
- Refers to shares of a company that have been publicly issued and sold.
- Outstanding debts: If you owe money to someone and you haven't paid it back yet, that debt is considered outstanding.
- Outstanding shares: When a company sells shares of stock to the public, those shares are considered outstanding until they are bought back or sold.
The examples illustrate the two different meanings of the word "outstanding." In the first example, "outstanding debts" refers to money that is owed but has not been paid yet. In the second example, "outstanding shares" refers to shares of a company that have been sold to the public and are still in circulation.
Ethics is knowing the difference between what you have a right to do and what is right to do.
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Simple Definition
Outstanding: When someone owes money and hasn't paid it back yet, we call it outstanding debt. It's like when you borrow a toy from a friend and haven't returned it yet. The toy is still outstanding. But outstanding can also mean something that has been sold to the public, like shares of a company.
The life of the law has not been logic; it has been experience.
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