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Simple English definitions for legal terms
Julian calendar
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A quick definition of Julian calendar:
Julian Calendar: A calendar system that was used a long time ago. It was named after Julius Caesar, who created it. It had 12 months and 365 days, but it didn't account for leap years very well. Nowadays, we use a different calendar called the Gregorian calendar.
A more thorough explanation:
The Julian calendar is an old calendar system that was used in many parts of the world before the adoption of the Gregorian calendar. It was introduced by Julius Caesar in 45 BCE and was based on a 365-day year with an extra day added every four years (leap year).
For example, in the Julian calendar, Christmas Day falls on December 25th, but in the Gregorian calendar, it falls on January 7th.
A jumbo certificate is a type of certificate of deposit (CD) that requires a minimum deposit of $100,000 or more. It typically offers a higher interest rate than a regular CD.
John invested $150,000 in a jumbo certificate with a 2.5% interest rate for five years. At the end of the term, he earned $9,375 in interest.
To jump bail means to fail to appear in court at the appointed time after promising to appear and posting a bail bond. This is a serious offense and can result in the forfeiture of the bail money and additional charges.
After being arrested for theft, Sarah posted bail and promised to appear in court. However, she decided to skip town and never showed up for her court date. As a result, she was charged with bail jumping and had to pay a fine.