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Simple English definitions for legal terms

act of honor

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A quick definition of act of honor:

An act of honor is a legal agreement made between parties, usually involving a bill that has been protested. In the past, this agreement was documented by a notary public, but it is no longer used under the UCC. An act of indemnity is a law that protects government officials from penalties for acting outside their powers or illegally. It can also compensate individuals for damages caused by government actions.

A more thorough explanation:

An act of honor is a transaction in commercial law where a third person agrees to accept a bill that has been protested, for the credit of one or more parties. This agreement is memorialized in an instrument prepared by a notary public. However, the UCC has eliminated this type of transaction.

John owes $100 to Mary, but he cannot pay it back on time. Mary decides to take the bill to a notary public and get it protested. Then, she finds a third person, Tom, who agrees to accept the bill for John's credit. Tom signs an instrument prepared by the notary public, which memorializes his agreement to accept the bill. This is an act of honor.

The example illustrates how a third person can help a debtor by accepting a protested bill for their credit. This type of transaction is no longer recognized under the UCC.

act of grace | act of law

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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