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Simple English definitions for legal terms
deep pocket
Read a random definition: Straight-line depreciation
A quick definition of deep pocket:
Term: Deep Pocket
Definition: Deep pocket refers to a person or company that has a lot of money and resources. This means they can afford to pay for things like lawsuits or damages. For example, if someone sues a big insurance company, they might be called a "deep pocket" because they have a lot of money to pay for any damages. It's like having a big piggy bank that can cover any expenses.
A more thorough explanation:
Definition: Deep pocket refers to a person or entity that has a lot of money and resources. This term is often used in legal cases where someone is seeking compensation for damages or losses.
Example 1: The plaintiff sued the big corporation with deep pockets because they knew they could get a large settlement.
Example 2: The insurance company was seen as a deep pocket by the plaintiff's lawyers, who hoped to win a big payout in court.
These examples illustrate how deep pocket is used to describe a person or entity that has a lot of money and resources. In legal cases, plaintiffs may target deep pockets because they believe they can get a larger settlement or judgment. This term is often used in discussions of lawsuits and legal strategy.