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Simple English definitions for legal terms

acceptance company

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A quick definition of acceptance company:

An acceptance company is a type of finance company that purchases consumer installment paper from other companies that directly make loans to borrowers. They do not deal directly with consumers but instead focus on buying consumer durables sold on installment plans. Other types of finance companies include commercial finance companies that make loans to manufacturers and wholesalers, and consumer finance companies that extend credit directly to consumers.

A more thorough explanation:

An acceptance company is a type of finance company that is also known as a sales finance company. It deals with loans by either making them or purchasing notes from another company that directly makes loans to borrowers.

  • Commercial finance company: A finance company that makes loans to manufacturers and wholesalers. It is also known as a commercial credit company.
  • Consumer finance company: A finance company that extends credit directly to consumers. It is also known as a small-loan company.
  • Sales finance company: A finance company that purchases consumer installment paper arising from the sale of consumer durables on time. It does not deal directly with consumers.

For example, if a person wants to buy a car on installment, the car dealer may sell the installment paper to a sales finance company. The sales finance company will then collect the payments from the person who bought the car. This way, the car dealer gets the money upfront, and the sales finance company earns interest on the loan.

Another example is a consumer finance company that offers personal loans to individuals. These loans may be used for various purposes, such as paying for medical bills or home repairs. The consumer finance company will charge interest on the loan, which the borrower will have to pay back over time.

Overall, acceptance companies play an important role in providing loans to individuals and businesses. They help to facilitate the purchase of goods and services by extending credit to those who may not have the funds to pay for them upfront.

acceptance by silence | acceptance credit

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babycat
11:28
yeah it’s insane how much better hip flexor stretches can make you feel sometimes
EvolBunny
11:28
Probably the most important long term mobility thing you can do
1a2b3c4d26z
11:28
Pigeon stretch GOAT
1a2b3c4d26z
11:29
Stretching was probably the biggest factor in becoming elite in my sport tbh
1a2b3c4d26z
11:29
well mobility in general
m10
11:29
Nah you wanna be wound up tight like a clock. All your parts working in synchronization, never missing a second.
BulbasaurNoLikeCardio
11:30
When I get home I think I will pull up a youtube yoga video and lay out the mat by the fireplace now, feeling guilty I haven't been stretching properly
1a2b3c4d26z
11:30
tighter you are, more potential energy you have. Your body is a spring. It's just physics
m10
11:30
Exactly.
JumpySubsequentDolphin
11:30
yoga classes stress me out
WorthlessAttractiveZombie
11:31
W&L put their scholarship info on the portal for those who were admitted 11/12
m10
11:31
Gotta always be ready to release that energy. Like if I am in a fight at the bar, I just gotta bust out a couple punches. No stretching.
JumpySubsequentDolphin
11:31
the instructor will be like "forget all of the things that youre stressing about" which reminds me of all of the things im stressing about
BulbasaurNoLikeCardio
11:32
I am too competitive to do yoga classes with other people. Try to stretch better or further then hurt myself lmao I am beyond competitive in anything physical.
babycat
11:32
if you guys all pay me to be your lsat tutor I can afford to do Pilates classes
JumpySubsequentDolphin
11:32
hot yoga was fun
JumpySubsequentDolphin
11:32
i loved barre and pilates when i did them together
m10
11:33
Here's an article from Testosterone nation for all you men out there on why stretching is bullshit. https://archive.t-nation.com/training/stretching-is-b-s/
snow
11:36
M so close to crashing out
BulbasaurNoLikeCardio
11:36
@babycat: If the person I am mentoring decides to listen to my advice instead of just discussing my advice I will pay you to tutor her. You seem like a smart, good and well put together person that she can probably learn well from.
babycat
11:37
Aw that’s so sweet Bulbasaur <3
EvolBunny
11:39
@m10: stretching absolutely helps with tight tendons lol
EvolBunny
11:39
now kiss
m10
11:40
@EvolBunny: Indeed! I am just riffing. Practicing for when I get into Chicago and do standup there on the weekends and get mad pussy.
EvolBunny
11:40
You only do cardio on the weekends ;)
babycat
11:40
@m10: I have a friend that does this but he doesn’t get mad pussy
m10
11:40
I'll work that in! Sounds like a good way to segway.
m10
11:41
@babycat: yeah, well unlike 99.99% of people who do standup I will.
BulbasaurNoLikeCardio
11:41
To do stand up comedy you have to have fat balls, that is awesome
m10
11:41
Woah, I got little balls. Like Adam Friedland. I ain't no Stavros.
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