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LSDefine

Simple English definitions for legal terms

accommodated party

Read a random definition: penal

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

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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