Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

accommodated party

Read a random definition: election, doctrine of

A quick definition of accommodated party:

Accommodated party: A person or entity that benefits from someone else signing a document or contract as an accommodation party, and who may hold that party liable for any obligations or debts incurred as a result.

A more thorough explanation:

Definition: An accommodated party is a party that benefits from the actions of an accommodation party who signs a contract and assumes liability on their behalf.

For example, if a friend asks you to co-sign a loan for them because they have poor credit, your friend is the accommodated party and you are the accommodation party. If your friend defaults on the loan, you will be held liable for the debt.

Another example is when a business owner asks their supplier to extend payment terms for a large order. The supplier may agree to do so if the business owner can provide an accommodation party to guarantee payment. In this case, the business owner is the accommodated party and the accommodation party is the one assuming liability for the payment.

These examples illustrate how an accommodated party benefits from the actions of an accommodation party who assumes risk and liability on their behalf.

accomenda | accommodation acceptance

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 9 👎
Help us make LSD better!
Tell us what's important to you
texaslawhopefully
17:03
"Two recent polls found opposition to pardoning the J6ers at 57 and 59 percent, respectively, and that was before Americans understood that even the cop-beaters in the crowd that day would be let off scot-free."
I wonder if this chat has mods
17:04
as most dictators who have come into power do, he appealed to the masses just to turn face once in power
Barely nutty
Dkk
17:04
@texas maybe so. Maybe so.
17:04
we have been duped.
17:05
Oh well there is always the next election.* *- unless there are no more elections.
texaslawhopefully
17:05
I lean conservative and for a long time was one of those people who thought that he was bad but wasn't a facist and that sort of rhetoric was over-reactive. And for those reasons I voted for Harris, but I think I was underestimating him by far.
gov hiring freeze is insane
Remember when Elon musk literally did the nazi salute twice , yeah
Insane
his goal is to crush public opinion of the government by intentionally making ineffective and then pointing to how ineffective it is
Dkk
17:05
I personally think most people are one issue voters and rhey disagree on principle but things have to be done this say now or else they never will.
17:05
oh well should be a good little 'societal experiment' if u will
@SplitterusClitterus: he clearly just meant his heart goes out to him, just ignore his support for the literal fascist party in germany
17:06
dkk what's your one issue
texaslawhopefully
17:06
I was a one issue voter. My one fucking issue was that Trump encouraged an insurrection.
texaslawhopefully
17:07
That's all anyone should've needed.
17:07
i am a 1 issue voter: national debt.
jackfrost11770
17:07
THERES A COP FUNERAL AND NOW THE BUSES ARENT RUNNING TO MY PLACE SO I HAVE TO WALK IN THE FREEZING COLD HOME
texaslawhopefully
17:07
Not to mention that he's completely thrown away liberalism and classic western political philosophy, but yk your eggs will be cheaper so it's worth it
how bad are these tariffs gonna get for us everyday consumers?
@jackfrost11770: FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUu
jackfrost11770
17:08
FUCK THE NYPD
WASP HAHAHAHAHHA
texaslawhopefully
17:08
Estimates are about 4k fruitbat
YRDSL
17:08
im a 1 issue voter - if i want someone to be elected i vote for them
woof
texaslawhopefully
17:08
I've seen some that could be as high as 7k though
17:08
@jackfrost11770: ya prolly don't buy any lotto tickets tonite
LSD+ is ad-free, with DMs, discounts, case briefs & more.