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LSDefine

Simple English definitions for legal terms

charging order

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A quick definition of charging order:

A charging order is a legal process that allows a creditor of a partner in a partnership to collect money owed to them from the partner's share in the partnership. This means that if a partner owes money to someone, that person can take some of the partner's profits from the partnership until the debt is paid off.

A more thorough explanation:

A charging order is a legal process that allows a creditor of an individual partner in a partnership to collect their debt by seizing the partner's share of the partnership. This means that the creditor can receive any profits or distributions that the partner would have received from the partnership until the debt is paid off.

For example, let's say that John and Jane are partners in a small business. John owes a debt to a creditor, and the creditor obtains a charging order against John's share of the partnership. This means that any profits or distributions that John would have received from the business will now go to the creditor until the debt is paid off.

Another example could be a real estate partnership where one partner owes a debt to a bank. The bank can obtain a charging order against the partner's share of the partnership, which would allow them to collect any rental income or profits from the sale of the property until the debt is satisfied.

In summary, a charging order is a legal tool that allows a creditor to collect a debt from a partner's share of a partnership. It can be used in various types of partnerships, including businesses and real estate ventures.

charging instrument | charitable

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15:30
fucking seriously dude we're readinf 1l of a ride
oh im reading that on my own
i feel like yall should read a fun book
NosyBeagle
15:34
can't join ur discord yet. im a next cycle baby
NosyBeagle
15:34
or an OF model if this shit doesn't start clicking
15:41
ive been banned from too many discords
15:42
you dont want me there
15:46
i want u there nemo
NosyBeagle
16:04
discord has been fine for me. i go nuts on twitter tho
16:08
I miss pre-Elon twitter
real
you go to twitter replies and it's all blue checks and bots now it's fugly
i just have a burner twitter for political updates
it's a cesspool
16:34
was twitter ever good
much better than it is now
16:34
i had it in 2015 and it was already ultra political rage bait
16:34
ok ya fair
nothing will top 2014 tumblr for me though
16:36
yo fr
16:36
2014 tumblr eating disorder core
there used to be a two-story american apparel in chicago and all the employees were beautiful and cool and here comes 13 year old me thinking i was just like them because i wore the same clothes
you are beautiful and cool tho
no YOU'RE BEAUTIFUL AND COOL!!!!!
it was like the hipster mecca
16:44
Tumblr ands its consequences have been a disaster for the human race
im glad i got over my tumblr politics phase in high school
Some people never grow out of it
NosyBeagle
18:45
ok my shift is over. byebye lawyers <3
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