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LSDefine

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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