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Simple English definitions for legal terms

pari passu

Read a random definition: cancellation clause

A quick definition of pari passu:

Pari passu means that things are done equally and fairly, without giving any preference to one over the other. For example, if a company goes bankrupt, all the creditors will receive their share of the money pari passu, which means they will get an equal amount of money without any preference given to one creditor over the other.

A more thorough explanation:

Pari passu is a Latin term that means "by equal step." It refers to the idea of treating things or people equally and without preference. In financial terms, it means that creditors or investors will receive their share of a company's assets or profits proportionally and without any preference given to one over the other.

For example, if a company goes bankrupt and has to distribute its assets to its creditors, they will receive their share pari passu. This means that each creditor will receive a portion of the assets that is proportional to the amount they are owed, without any preference given to one creditor over another.

Another example is in the case of preferred stock and common stock. If a company issues both types of stock, the dividends paid to each type of stock will be pari passu. This means that the dividends will be paid out proportionally to the number of shares held, without any preference given to one type of stock over the other.

These examples illustrate the concept of pari passu, which is about treating things or people equally and without preference. In financial terms, it ensures that creditors and investors are treated fairly and receive their share of a company's assets or profits in a proportional and unbiased manner.

parimutuel betting | pari ratione

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slay
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yo yall bouttta miss the washu zoom
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Mostlylegal
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dude we getting litty in the washu zoom
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thats where all the baddies hangout
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just did coke off this one girls tits at the washu zoom, i cant believe people didnt sign up for this shit LMAO
did you hook up with the girl at your gulc interview
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ronniedoeslaw
23:31
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ronniedoeslaw
23:32
Is it worth moving to Florida for law school?
I’d only do it for uf
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That’s a good point
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@ronniedoeslaw: Dude, I was drinking wine at my favorite place and I saw that. Ball went up from the rim and then down. Went to OT and the Pacers came back. Insane.
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I nornally don't watch basketball but it was a cool af moment.
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normally*
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