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Simple English definitions for legal terms

electronic currency

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A quick definition of electronic currency:

An electronic currency is a type of money that exists only in digital form. It is stored on a computer or a computer chip and can be transferred over the internet. It is also known as e-money or digital cash. Unlike paper currency, it is not backed by gold or silver. It is legal tender for the payment of debts and can be easily converted to cash.

A more thorough explanation:

Electronic currency, also known as e-money, is a type of money that exists only in digital form. It is transformed into information stored on a computer or computer chip so that it can be transferred over information systems such as the Internet.

Examples of electronic currency include Bitcoin, PayPal, and Apple Pay. These forms of payment allow individuals to make purchases and transfer funds without the need for physical cash or checks.

For example, if someone wants to buy a product online using PayPal, they can transfer the necessary funds from their PayPal account to the seller's account electronically. This eliminates the need for physical cash or checks to be exchanged.

Overall, electronic currency provides a convenient and efficient way to make transactions in today's digital age.

electronic funds transfer | Electronic Signatures in Global and National Commerce Act

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

windyMagician

16:29

do you have a particularly hard time with one kind of passage, or is it more of an overall problem?

PremiumFrequentCrane

16:29

First, RC is something you been doing since grade 1, so unlike LR or LG, it is something you have been exposed to and you will have a natural affinity for it that will be hard to move beyond. Second, you need to just do more of them lol Know all the rules and question types etc. from a curriculum, one of the tried and true like PS or 7sage or what not, then you just drill. Of course that also means you need to review your answers in depth - you need to find where in your thought process you made an error so it doesnt happen again. It also helps to solidify right thought pathways. And not about content like "oh yeah i guess the blacks in 1870s latino communities were creole," but like "oh yes question asks for y and i said z so in the answer i mistook x for w being the right answer" lol aka structural approach. That is all i gots for free lol hire a tutor if you need more.

PremiumFrequentCrane

16:30

For LR, look at it as mathematical word problems with algebra.

AngryMiniCar

16:32

Thanks @premiumfrequentcrane. Windy I think (oddly enough) I'm having the most trouble with liberal arts/arts based passages. So anything about the arts/ a writer or author/ music I mess up on even if the passage is super easy.

PremiumFrequentCrane

16:34

Usually happens when you apply too much opinion to the passage lol that is also why i said 0 to -2 is RC mastery as opposed to -0 as sometimes you may think that author's pov in the opera comparative passages is "facetious" and they were looking for "apathetic"

AngryMiniCar

16:36

That's likely true.

PremiumFrequentCrane

16:38

Remember, all people who go to law school having to do LSAT prep is also about social engineering lol Like you should have some shared basis in how you think/talkk, hence "lawyer talk," but how do they choose which ones to release for everyone to do, from a content perspective? Is it a coincidence we get many climate change content questions? LOL So what i am getting at is that is sometimes VERY subjective lol So dont beat yourself up TOO bad on arts in RC, but obvs work on it.

RasheedWallaceFan

16:41

How many t-14s are appropriate to apply to if i have a 170 lsat

RasheedWallaceFan

16:41

this is for next cycle

RasheedWallaceFan

16:42

everyone saying medians are gonna be crazy so idk what i should be aiming for. 3.9+ gpa if it matters

RasheedWallaceFan

16:42

r/lsa makes me feel like im stupid for having a 170 lol

windyMagician

16:44

@RasheedWallaceFan: your gpa is above all medians, so apply broadly

RasheedWallaceFan

16:47

Okay thank you for the input, the other thing im struggling with is just making a school list in general. I am insecure so im like do i have to apply to 5 low ranked schools just in case? I guess I am trying to figure out where the "safety" cutoff is and my list right now is 25 schools so idk if thats too much

windyMagician

16:52

@RasheedWallaceFan: 25 is on the high end, but you should apply to however many you feel comfortable with. imo, a safety is anywhere you are well above both medians. you can look at my school list for inspo if you'd like

windyMagician

16:52

you shouldn't apply to anywhere you wouldn't realistically go if it was your only offer

RasheedWallaceFan

16:55

for sure, thank you a lot. Have fun at michigan that will be awesome!

NosyBeagle

17:13

it is 4pm here so it's time for nyt sudoku (I'm not good at sudoku either)

badhorrormovie

17:13

omg i just did the wordle and mini

NosyBeagle

17:14

love nyt games

badhorrormovie

17:14

SAMEEEEE

NosyBeagle

17:14

i do them in between studying to keep sane

badhorrormovie

17:16

@RasheedWallaceFan: take your list and research the city, campus, tuition, bar passage, employment by sector, etc.!!! it might help you narrow down your school choices

badhorrormovie

17:18

also don't pay much attention to the people on reddit. there's genuinely good advice but there's a ton of people who are just energy vampires (average reddit user)

badhorrormovie

17:18

@NosyBeagle: that is so real

badhorrormovie

17:18

me playing a mobile game after a 7sage section

NosyBeagle

17:26

i have or im gonna get the lsat blues

NosyBeagle

17:26

lol

GalenMeric

17:30

I already have the LSAT blues... not as much as I am going to have between June 7 and June 25 though :P

GalenMeric

17:31

The real reason why lawyers are alchoholics... Because there is so much of a wait time between tests and scores.

NosyBeagle

17:48

i already became one in undergrad so ill fit right in

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