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LSDefine

Simple English definitions for legal terms

Principal

Read a random definition: admissible evidence

A quick definition of Principal:

Principal: A really important person or thing for a specific reason. It can mean:

  1. Someone who lets another person act for them.
  2. The basic amount of money you owe or invest, without any extra money you might make from it.
  3. Someone who is mostly responsible for doing something they promised to do.
  4. The money or things that are used to start a trust.

A more thorough explanation:

In general, a principal is a person or thing that is more important than others for a specific purpose. Here are some specific contexts:

A principal is someone who gives permission to another person to act on their behalf. This person is called an agent, and they have a fiduciary duty to act in the best interest of the principal. For example, a company may authorize an employee to negotiate a contract with a client.

The principal is the basic amount of a debt or investment, which does not include any additional earnings like interest or profits. For example, if you borrow $100 from a friend and agree to pay back $110 in a month, the principal is $100.

A principal is someone who has primary responsibility to perform an obligation. For example, if you sign a lease agreement with a landlord, you are the principal responsible for paying rent and following the terms of the lease. If you fail to do so, the landlord can take legal action against you.

The principal of a trust is the corpus, or the assets that fund the trust. For example, if you create a trust fund for your child's education, the principal is the money you put into the fund.

These examples illustrate how a principal is a person or thing that is more important than others in a specific context. It can refer to someone who authorizes another to act on their behalf, the basic amount of a debt or investment, someone with primary responsibility to perform an obligation, or the assets funding a trust.

primogeniture | Principal in the first degree

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14:47
it has significantly impacted my opinion on their law school
14:48
week* frick
BluePacedCephalopod
14:49
yeah like i've gotten radio silence from them since october
BluePacedCephalopod
14:49
like if you don't want me that's fine but why not reject or WL people? too busy having Zoom seminars
BluePacedCephalopod
14:50
like it's actually so rude that they don't have the decency to R/WL before like April
15:03
Lmaoo the Zoom seminars
GW is requesting my fall transcripts (I had intended to apply during the fall semester when I requested them, but had three hurricanes-one with water rescues in my neighborhood-an emergency 2 1/2 week trip to Colorado to say goodbye to my mother-in-law, then I received my service dog, which required another eight days away from school for training), so I ended up applying this month. If I request new transcripts through LSAC, does each school I applied to receive them? I'm hoping to not have to write an addendum of why all of my narrative evaluations mention my busy schedule or that I had to miss classes and whatnot. (My school doesn't do letter grades.)
AnotherUsername1
16:31
Yes, they receive them automatically from LSAC
@AnotherUsername1: Thank you! :)
1a2b3c4d26z
17:00
hi
omelette
17:22
yooo 1a
omelette
17:22
its eggan
omelette
17:22
eff i missed him
Do y'all think Berkeley's gonna reject me or waitlist me. An A seems unlikely atp.
omelette
18:24
i feel the same way
'tis very sad
It sucks cause I feel like I fucked up my video statement but the rest of my app was strong and now the video statement isn't even a requirement
I think as long as you haven't been R or WL, you're still in the running! I don't think they'd leave anyone hanging if they already knew! <3
BatmanBeyond
19:12
Tried negotiating scholarships with the school but they basically called my bluff saying I have to share other letters by the deposit deadline to get any $. It feels good to bet on myself though
1a2b3c4d26z
19:37
EGGGGG
1a2b3c4d26z
19:38
MY MAN
1a2b3c4d26z
19:38
How's it goin
[M] hw03
20:46
how's everyone doing
did anyone have a penn date change? mine went into review early feb, then the date on the portal changed to a couple days ago.. but no email update wondering if anyone else is in the same boat
omelette
22:24
@1a2b3c4d26z: im ok just waiting on a few more schools
0:32
how do you fuck up a video statement when youre well aware its going to happen and its straightforward
Obama
2:13
You’re an idiot
Obama
2:14
There’s a variety of ways for it to go awry
omelette
2:59
yeah true, an alarm noise went off in the middle of my video statement and i just kept going but it could have prevented the adcomms from hearing what i was saying
I have hemorrhoids, how do I negotiate for more gibs when I don't have a competing offer
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