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LSDefine

Simple English definitions for legal terms

accommodation paper

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A quick definition of accommodation paper:

An accommodation paper is a special type of document that someone signs to help another person get a loan or credit. The person who signs the paper is called a cosigner and they don't get anything in return for signing. The cosigner is just there to help the other person get approved because they have better credit or are more trustworthy. This is called an accommodation bill or note.

A more thorough explanation:

An accommodation paper is a type of negotiable instrument where one party cosigns, without receiving any payment, as a surety for another party who remains primarily liable. This is typically done when the cosigner has better creditworthiness than the principal debtor.

For example, let's say that John wants to borrow money from a bank, but he has a poor credit score. His friend, Jane, has a good credit score and agrees to cosign on the loan as an accommodation paper. This means that if John fails to repay the loan, the bank can go after Jane for payment.

Another example could be a business owner who needs to lease a property but has a weak financial history. The landlord may require an accommodation paper from a more financially stable individual to ensure that the rent will be paid.

Overall, an accommodation paper is a way for a less creditworthy party to obtain credit or enter into a contract by having a more creditworthy party cosign as a guarantor.

accommodation note | accommodation party

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WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
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