Simple English definitions for legal terms


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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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Hi! I’m a rising 3L at GULC who transferred and is in big law now. Does anyone have any questions lol
can you put a good word in for me with adcommns?
@georgiapeach88: Where did you transfer from? And why did you transfer?
Oh, I see from your profile: Maryland. Still, why did you transfer?
[] ararara
Caught the most epic sunset haha I was so high up my ears still haven’t popped
[] ararara
@georgiapeach88: I actually remember you from some of the first times I was on this site
Just out of curiosity: Do we think it's fair to say that the percentage of users of those site who continue to use it after their 1L starts, for those users who actually went or go to law school, is <1%?
@georgiapeach88: not sure if you're still there but im also curious bout why you transferred, especially since your application says you were eventually admitted to GULC off the waitlist?
do we think GULC is done
@BelligerentMagicalWarthog: last year they were accepting people off the waitlist from mid june up to a few days before classes start. so just off that and vibes I don't think they're done
Hi Guys
gulc said they'll get back to me by the week of june 17th
i hope they give me the a or r. i just want an answer 😭😭
has anyone on GW waitlist heard anything?
@menherachan: praying for your WL A
@menherachan: i hope they give u that A as well
tysm! i hope so too lol
Hello everyone. Is it easy to miss important information about your admissions results if you don’t add your law school admission office to your Gmail contact? Did you find any important email from law school in your junk mail?
finna make yo hard times look pretty 😪
i watch my grandpa say penis
hys students when they see the above the law rankings 😪
@BelligerentMagicalWarthog: anecdote but a friend of mine got off the gulc waitlist in July last year
Write a poem rizzing up the admission staff
@Zenaida-Macroura: I got a waitlist on Saturday
Should I email HLS and ask if WL students get merch. They asked for my address for a surprise gift but I haven’t gotten anything
@dusttodiamonds: OMG???
More things to worry about over the weekend nice....
[] ararara
@Zenaida-Macroura: there’s no reason to worry ☮️ ❤️ but I/we get it! For me I’m super worried about not having any money coming in for a while plus no sugar mommy/daddy (yet!) to take care of me!
[] ararara
I always think back to when I was anxious waiting for my lsat results one take. I went to the park and a parent let me play with their kid. I fixed his truck and he was hyped! He told me to “have a good time!” when I left haha. He’s our spirit animal!
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