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LSDefine

Simple English definitions for legal terms

adequate assurance

Read a random definition: stylized drawing

A quick definition of adequate assurance:

Adequate assurance means having enough proof or guarantee that something will happen as promised. For example, if someone promises to do something, the other person may ask for adequate assurance that it will actually happen. This can be a pledge or a guarantee that gives the other person confidence that the promise will be kept. In some cases, if adequate assurance is not provided, it can mean that the promise has been broken.

A more thorough explanation:

Definition: Adequate assurance refers to a circumstance or act that gives confidence to the party who is expecting something to happen. It is a pledge or guarantee that the contract will be fulfilled as agreed upon.

Examples:

  • If a company orders goods from a supplier and the supplier fails to deliver on time, the company may demand adequate assurance that the goods will be delivered as promised. This could be in the form of a written guarantee or a deposit.
  • In a real estate transaction, the buyer may require adequate assurance that the seller has the legal right to sell the property and that there are no liens or encumbrances on the property.

These examples illustrate how adequate assurance is a way to ensure that both parties in a contract have confidence that the terms of the agreement will be fulfilled. It is a way to prevent misunderstandings and protect both parties from potential losses.

adequate | adequate care

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JumpySubsequentDolphin
17:30
maybe they date change will come later?
JumpySubsequentDolphin
17:30
when did you go complete
mid sept
1a2b3c4d26z
17:38
Lol I dont think anyone has any idea, I got a date change but was crickets on the last wave
1a2b3c4d26z
17:38
It's a big black box and the best we can do is try our best and forget the rest yaknow
1a2b3c4d26z
17:39
Thx for coming to my ted talk
shaquilleoatmeal
17:40
anyone apply to bu and if so do you have a sub status ??
JumpySubsequentDolphin
17:42
@1a2b3c4d26z: did you pick a color
1a2b3c4d26z
17:43
wdym
1a2b3c4d26z
17:43
OH
1a2b3c4d26z
17:43
Purple
@shaquilleoatmeal: yeah both my status and substatus say application complete
1a2b3c4d26z
17:44
I discreetly asked her which color she liked best when the new ones dropped and she said purple, I just wanted to hear second opinions
shaquilleoatmeal
17:44
@Eminatorcookieeater: same and my sub status was blank yesterday - trying to research what it means
@shaquilleoatmeal: ooo I wonder what that means, hopefully it means we'll hear back soon
shaquilleoatmeal
17:48
It looks like an update to the sub status (it saying complete instead of being blank) means some sort of review has happened - basically a UR2. Seems like those who got a substatus change got a decision a few days after...
shaquilleoatmeal
17:50
slightly helpful! Not much info on the substatus changes for BU though
i don't have a sub status but i was only marked complete like two weeks ago
cause they wanted me to send another transcript
is that wake forest a from last cycle i am so confused
shaquilleoatmeal
17:51
@jackfrost11770: oo interesting - I first went complete 10/25 and now the sub 11/5
shaquilleoatmeal
17:51
wonder if they'll ask for me for more info but can't think of what it would be
17:54
berk…..
shaquilleoatmeal
17:58
what about berk
18:01
i need wave
shaquilleoatmeal
18:04
call them and demand one
@shaquilleoatmeal: did you get double app complete on sub status or just one
letsseehowitgoesnow
18:11
shaq i got that for BU
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