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LSDefine

Simple English definitions for legal terms

advance payment

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A quick definition of advance payment:

An advance payment is when you pay for something before you actually get it. This can happen when you know you will owe money in the future, but you want to pay some of it now. For example, if you want to buy a toy that costs $10, but you only have $5 right now, you might make an advance payment of $5 to the store and promise to pay the other $5 later. Advance payments can also be made for things like rent or services that will be provided in the future.

A more thorough explanation:

An advance payment is a payment made in anticipation of a future liability or obligation. It is a payment made before the goods or services are delivered or before the work is completed.

  • When you book a hotel room, you may be required to make an advance payment to secure the reservation.
  • When you order a custom-made product, such as a wedding dress, you may be required to make an advance payment before the dress is made.
  • When you hire a contractor to do work on your home, you may be required to make an advance payment before the work begins.

These examples illustrate how an advance payment is made before the goods or services are delivered or before the work is completed. It is a way for the seller or service provider to ensure that they will be paid for their work or product, and it is a way for the buyer to secure the goods or services they need.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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