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Simple English definitions for legal terms

add-on clause

Read a random definition: affirmative representation

A quick definition of add-on clause:

An add-on clause is a part of a contract that allows for previous purchases to be used as security for new purchases. This means that if you buy something on installment, the seller can use that purchase as collateral for any future purchases you make with them. It's like a promise that you will pay for everything you buy from them, even if you haven't finished paying for the first thing yet.

A more thorough explanation:

An add-on clause is a provision in an installment contract that allows earlier purchases to be used as security for new purchases. This means that if a customer has already made purchases on an installment plan, they can use those purchases as collateral for future purchases.

Let's say that a customer buys a computer on an installment plan. After a few months, they decide that they want to buy a printer to go with the computer. With an add-on clause, the customer can use the computer as collateral for the printer purchase. This means that if the customer defaults on the printer payments, the computer can be repossessed to cover the debt.

Another example could be a furniture store that offers an add-on clause. A customer buys a couch on an installment plan and later decides to buy a coffee table. The store can use the couch as collateral for the coffee table purchase.

These examples illustrate how an add-on clause can be beneficial for both the customer and the seller. The customer can make additional purchases without having to go through the entire credit approval process again, and the seller has added security for the new purchases.

additional insurance | addone

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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
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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