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LSDefine

Simple English definitions for legal terms

advance

Read a random definition: remittit damna

A quick definition of advance:

An advance is when someone gives money or goods before they get something in return. Usually, the person who gets the advance has to pay it back later or do something to make up for it. There are two main reasons why someone might ask for an advance: to make sure they get what they paid for, or to make sure they get paid for what they're giving. For example, if you want to buy something but don't have enough money, you might ask for an advance. Or, if you're selling something and want to make sure the buyer will pay you, you might ask for an advance. Advances can also be used to pay for things ahead of time, like a phone plan or insurance.

A more thorough explanation:

An advance is a type of loan or payment where money or goods are given before receiving something in return. The person receiving the advance is expected to repay it later or adjust the basis of the transaction. There are two types of advance payments:

  • As security for the delivery of goods or services
  • As an early payment of a bill or debt

For example, when you rent an apartment, you may be required to pay a security deposit in advance. This is to cover any damages you may cause to the apartment during your stay. Another example is when you buy a prepaid cell phone plan. You pay in advance for a certain amount of minutes or data to use on your phone.

Advance payments are also used to protect sellers from buyers who may not pay for goods or services. For instance, a seller may ask for an advance payment to cover the cost of producing a product. This way, if the buyer doesn't pay, the seller won't lose money. Companies may also be required to make advance payments for large orders to provide sufficient consideration for the producer.

When an advance payment is accepted before a due date, the debt or bill that is due is adjusted by the payment to reflect a lower balance. For example, if you owe $100 on a bill and you make an advance payment of $50, the amount you owe is reduced to $50.

adultery | advance directive

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TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
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.
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