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Simple English definitions for legal terms

acceleration

Read a random definition: Self determination (international law)

A quick definition of acceleration:

Acceleration: When you borrow money, you agree to pay it back by a certain date. But if you don't make your payments on time, the lender can make you pay back everything you owe right away. This is called acceleration. It means you have to pay back the whole amount of money you borrowed, instead of just making your regular payments.

A more thorough explanation:

Definition: Acceleration is when a loan agreement's due date is moved up so that the borrower has to pay back the entire amount immediately. This happens when the borrower breaks the terms of the agreement.

Example: Let's say you take out a loan to buy a car. The loan agreement says you have to make monthly payments for five years. But if you miss a payment or break another rule in the agreement, the lender can accelerate the loan. This means you have to pay back the entire amount you borrowed right away, instead of over five years.

Explanation: The example shows how acceleration works in a loan agreement. If the borrower doesn't follow the rules, the lender can demand payment of the entire loan immediately. This is a way for the lender to protect themselves from the risk of the borrower not paying back the loan.

accelerated filer | acceleration clause

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

shaquilleoatmeal

11:14

damn couldnt even get to Christmas dinner before this question lmao im not looking for anything serious rn so no updates lol

cheriebomb

11:14

i made out with my ex in a stairwell the other day if you care. my only update

shaquilleoatmeal

11:14

oof

shaquilleoatmeal

11:14

twitter ex or a different ex

cheriebomb

11:15

different ex

windyMagician

11:15

since its not Twitter dude I'll forgive it

shaquilleoatmeal

11:17

at least you did that before the new year, cant carry that baggage in 25

cheriebomb

11:17

I think he thinks if I move to nyc we’re going to get back together

cheriebomb

11:17

that’s not my plan tbh

jackfrost11770

11:18

https://www.reddit.com/r/lawschooladmissions/comments/1hk0qlh/insane_admissions_story/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

jackfrost11770

11:18

this is so funny

shaquilleoatmeal

11:19

lmao damn wish id be classmates with this dude

shaquilleoatmeal

11:20

@cheriebomb: you never know what the future holds

jackfrost11770

11:20

also cherie fallen soldier

jackfrost11770

11:20

i got home at 8 am from the club and my neighbor was leaving to go biking. truly living in different worlds

cheriebomb

11:20

i don’t fw him that heavy tbh

cheriebomb

11:21

i get along better with his friends than i do with him

windyMagician

11:21

nah the hiking in Nike blazers deserves jail time

cheriebomb

11:21

he was already vomiting and shitting in a hole I think he did his penance

windyMagician

11:26

call that restorative justice

shaquilleoatmeal

11:34

@cheriebomb: https://www.boston.com/travel/travel/2024/12/20/boston-was-just-named-the-most-beautiful-winter-city-in-the-world/

cheriebomb

11:35

they put a place in the UK second. I don’t trust their methodology

shaquilleoatmeal

11:35

im laughin cause it definitely isnt but the fact that some people this it is is comical

shaquilleoatmeal

11:35

tink*

shaquilleoatmeal

11:35

think jee

shaquilleoatmeal

11:35

jeez - im over it

cheriebomb

11:37

imagine saying you want to go to boston for christmas 💀

shaquilleoatmeal

11:40

https://www.instagram.com/backbayboston/p/DD13nN_RM3g/

shaquilleoatmeal

11:40

imagine you not wanting to go what lmao

cheriebomb

13:55

not impressed by the fact that they have a park and some buildings. who doesn't

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