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Simple English definitions for legal terms
overplus
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A quick definition of overplus:
Overplus is another word for surplus, which means having more than what is needed or required. It can refer to the extra amount of something that is left over, like money or goods, after all the necessary expenses have been paid. For example, if a store sells more products than it expected, it may have an overplus of inventory. Similarly, if a company earns more money than it spends, it may have an overplus of profits. Overplus can also refer to the excess funds that remain after a partnership has been dissolved or a corporation's net worth beyond the par value of its capital stock.
A more thorough explanation:
Definition: Overplus is another word for surplus, which means the extra or leftover amount of something. It can refer to:
- The remaining amount of something after the necessary amount has been used or taken.
- The excess of money earned over money spent.
- The funds that remain after a partnership has been dissolved and all its debts paid.
- The net worth of a corporation beyond the par value of its capital stock.
For example, if a company earns $100,000 in revenue but only spends $80,000 on expenses, it has a surplus of $20,000. This extra money can be used for investments, savings, or other purposes.
Another example is when a partnership is dissolved and there is money left over after all debts have been paid. This remaining amount is the overplus or surplus.
Overall, overplus or surplus refers to the extra or leftover amount of something, whether it's money, goods, or assets.