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LSDefine

Simple English definitions for legal terms

actual loss

Read a random definition: design professional's lien

A quick definition of actual loss:

Actual loss is when something valuable is lost or damaged unexpectedly. For example, if you buy a toy and it breaks, that's an actual loss. If you have insurance, the insurance company will pay you for the loss. If you sell something for less than you paid for it, that's also an actual loss. The amount of the loss is the difference between what you paid and what you sold it for.

A more thorough explanation:

Actual loss refers to an undesirable outcome of a risk that results in the disappearance or reduction of value, usually in an unexpected or unpredictable way. It can be calculated by determining the difference between the original cost of something and its later selling price.

Examples of actual loss include:

  • A car being totaled in an accident, resulting in a decrease in its value
  • A property being damaged by a natural disaster, causing financial detriment to the owner
  • A person losing possession of their phone, resulting in the loss of its value

These examples illustrate how actual loss can occur in various situations and result in financial harm to individuals or entities.

actual knowledge | actually litigated

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General chat about the legal profession.
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@limpweeny: kicking my butt lol. Memo season and gearing up for finals with massive readings for every class. Completely winging civ pro today🤣
shaquilleoatmeal
10:22
Yo spider if you so tough dox yourself
10:22
thats a good barometer of toughness
shaquilleoatmeal
10:22
Don’t act like an ass over the screen just because your identity is hidden
letsseehowitgoesnow
10:22
lmaooo
BulbasaurNoLikeCardio
10:22
All of these worries and complaints can easily be solved by engaging in local and state level community politics. like the baddest bunny in the chat has mentioned. Down ballot votes are more effective and as important as top of ticket
What makes you so tough? Saying i like trump is the exam same as you saying you like harris. Your opinion is irrelevant
10:22
isnt that what ur doing rn shaq
BulbasaurNoLikeCardio
10:22
Time to go supervise a training, wish you all the best
soapy
10:23
Oh yeah, bulb. That's why all my work and volunteerism has been in statewide stuff. Unfortunately the campaign I was on this time didn't pan out
shaquilleoatmeal
10:23
Come on you know law schools would see that applicant as an ass so he’ll never reveal his identity because he knows what he’s saying online is pathetic
letsseehowitgoesnow
10:23
shaq isnt acting like an ass?
soapy
10:23
State stuff is certainly more impactful
10:23
hes a 1L i dont think he gives a fuck what a slack jawed adcomm thinks
shaquilleoatmeal
10:23
I’m not saying ridiculous shit like spider
Youre being a typical lib. Calling someone out for the exact thing youre doing. Just like harris! How cute🤣
shaquilleoatmeal
10:24
I’m not saying things I know law schools would rescind my offer on
shaquilleoatmeal
10:24
Not a lib nice try bud
10:24
Huge w for trump. With an heir apparent as well. 12 years coming up ?
How would saying i support trump get an offer rescinded?
shaquilleoatmeal
10:24
Just a decent human who doesn’t vote for an idiot
Same. Didn’t vote for kamala
shaquilleoatmeal
10:24
Come on dude you know you’re saying more than that shit please
You should probably learn to not put your own bias into other people’s words before starting school. Hope it helps :)
JumpySubsequentDolphin
10:25
I thought my you’re not like this joke was funny
shaquilleoatmeal
10:25
Reaches my message limit - just don’t act so damn tough online saying shit
JumpySubsequentDolphin
10:25
Tough crowd fr
10:26
holy soy
JumpySubsequentDolphin
10:26
get it out of your systems before 11 AM est so anyone who wasn’t part of UMich wave can cry in chat
10:27
accidentally bought something called "soyrizo" at the grocery store the other day
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