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LSDefine

Simple English definitions for legal terms

outstanding

Read a random definition: etiquette of the profession

A quick definition of outstanding:

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.

A more thorough explanation:

Outstanding, adjective

  1. Refers to debts or bills that have not been paid yet.
  2. 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.

outsourcing agreement | outstanding capital stock

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dasfi0990ut1
18:32
miss ya, worried about u (llama)
fedclerkhopeful
18:33
nope I got the WL
dasfi0990ut1
18:33
fk this cycle.
fedclerkhopeful
18:33
still prolly set on reapplying unless SLS comes in clutch
dasfi0990ut1
18:34
Good on you! LS will always be there. I hope either way it works out- IK it will! Keep ya head up!
fedclerkhopeful
18:34
thank you :)
18:35
is the 50~70% conversion rate for Cornell ii accurate?
dasfi0990ut1
18:35
:)
fedclerkhopeful
18:35
yep
[] ararara
18:36
@fedclerkhopeful: what are your goals?
[] ararara
18:38
You remind me of a friend of mine from back in the day. They came in at the top of their class at a T14 but reapplied before doing this to get HYS. They still didn't get it the second time with perfect stats. That stuff is competitive and what does it matter anyway? Just saying!
18:42
Sometimes I’m like yeah i could work for five years and get into Harvard but that’s sooo much work
18:42
No thank you!
dasfi0990ut1
18:43
@dubiously: same. in 5 years ill either be in prison for fraud or retired in the caymen islands
18:43
This white boy don’t miss u would swear u saw Luka
fedclerkhopeful
19:10
@ararara: appellate clerkship and then civil liberties law
fedclerkhopeful
19:11
And yes, I have near perfect stats and would regret going to a lower tier school when reapplying is a viable option
omelette
19:12
lower tier and its mfing cornell
[] ararara
19:27
Haha didn't realize you were admitted at Cornell not why I'm saying this haha. I've also seen a few people get H and one person get Y the second time around. Hopefully things just work out now but if it doesn't go your way the second time don't worry ✌️ you 🫵 are amazing! For the record though my housemate's friend who graduated from Cornell has an appellate clerkship.
[] ararara
19:28
@dubiously: 💀😵👻
when do we think FSU and UF will have all decisions out
19:37
I know a guy who got an appellate clerkship out of a regional t100. He’s old now but still
dasfi0990ut1
19:43
@dubiously: was it Kansas by chance?
19:44
Of course. Kansas is an appellate clerkship powerhouse
dasfi0990ut1
19:45
KS to the T14 by 2028!
[] ararara
19:47
@FumblingRightfulLemur: I would look back at last cycle ✌️❤️ but also actually wouldn't even pay attention that's usually when it happens haha
rosythecat
20:53
@ararara: your cycle was insane holy hell
rosythecat
20:53
W
Steel2Law1997
20:56
anybody got any tips/stories of going from WL to A?
dasfi0990ut1
21:22
@Steel2Law1997: LOCI, research the school and try to mention specifics of what excites you about the school. Be friendly to adcoms. Try to sit in on virtual sessions/ zooms if possible. If you have any updates (promotion at work, volunteering, etc) send it to them! Godspeeeddd
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