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LSDefine

Simple English definitions for legal terms

advance

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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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