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Simple English definitions for legal terms

add-on clause

Read a random definition: interference with a business relationship

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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Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
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