20:38
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LSDefine
Simple English definitions for legal terms
split
Read a random definition: causa promissionis
A quick definition of split:
Split: To divide something into smaller parts. For example, when a company splits its shares, it creates more shares without changing how much each shareholder owns. Splitting a cause of action means separating a legal claim into different parts and pursuing them separately, which is usually not allowed. Split-off and split-up refer to dividing a corporation into new ones, with shareholders receiving shares in the new companies.
A more thorough explanation:
Definition: To divide something into segments or parts.
Example: A company may split its shares, issuing two or more shares for each old share without changing the shareholder's proportional ownership interest. This is known as a stock split.
Explanation: The example illustrates how a company can divide its shares into smaller segments, making it easier for investors to buy and sell them. This does not change the overall value of the shares, but it does make them more accessible to a wider range of investors.