14:19
I wrote Raytheon instead of RTX since its more recognizable
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LSDefine
Simple English definitions for legal terms
general assumpsit
Read a random definition: remainder vested subject to open
A quick definition of general assumpsit:
General Assumpsit: A promise made by one person to do something or pay something to another person, either explicitly or implicitly, without a seal. If this promise is broken, the person who made the promise can be sued for damages in a court of law. General assumpsit is a type of legal action that can be taken against someone who has broken an implied promise to pay a debt to the plaintiff. This type of action is also known as common assumpsit or indebitatus assumpsit.
A more thorough explanation:
Definition: General assumpsit is a type of legal action that is based on the defendant's breach of an implied promise to pay a debt to the plaintiff. It is also known as common assumpsit or indebitatus assumpsit.
Examples: If someone owes you money but has not made an explicit promise to pay you back, you can still take legal action against them using general assumpsit. For example, if you lent your friend $500 and they have not paid you back, you can sue them using general assumpsit.
Explanation: General assumpsit is a legal action that allows you to sue someone for not fulfilling an implied promise to pay a debt. This means that even if there was no explicit agreement or contract, you can still take legal action if someone owes you money and has not paid you back. The examples illustrate how general assumpsit can be used in a real-life situation where someone owes you money but has not made an explicit promise to pay you back.