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LSDefine

Simple English definitions for legal terms

arm's length

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A quick definition of arm's length:

Arm's length: When two or more people or companies do business, they should act fairly and independently, without any special relationship or advantage. This is called an "arm's length" transaction. It's like playing a game with someone who is not your friend or family member, where both players have the same chance to win and follow the rules. This is important because it helps make sure that everyone is treated fairly and that taxes are paid correctly.

A more thorough explanation:

Definition: “Arm’s length” is a term used to describe business transactions between two or more parties who are not related or affiliated with each other. In these transactions, the parties act independently and in their own self-interest, with equal bargaining power and symmetric information. The terms of the transaction are agreed upon based on fair market conditions.

For example, if a company wants to buy a product from another company, and both companies are not related or affiliated, they can negotiate the terms of the transaction at arm's length. This means that they will agree on a fair price for the product based on market conditions, without any undue influence or pressure from either party.

However, if a company wants to buy a product from its subsidiary, which is a related party, the transaction may not be considered arm's length. This is because the parent company may have more bargaining power and information than the subsidiary, and may not negotiate the terms of the transaction based on fair market conditions.

The concept of arm's length is important because it ensures that business transactions are conducted fairly and transparently, without any conflicts of interest. It also has legal and tax implications, as many countries require companies to engage in business transactions with related parties at arm's length to ensure that taxes are correctly allocated.

ARM | Armed Career Criminal Act (1984)

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14:28
no
WorthlessAttractiveZombie
14:28
fuck alright
14:28
not this week
14:28
dont even get ur hopes up u fool im from the year 2076
TheMidwestMonger
14:28
I'm terrified with how the world will react to Trump losing
WorthlessAttractiveZombie
14:28
damn, next question: should i eat the cheese that's been in my fridge for 3 weeks?
14:28
im pretty sure the world is gonna rejoice??
14:29
yes it is the key to immortality
TheMidwestMonger
14:29
Sorry, I meant the far right and their reaction lol
I live in alabama if she wins it's gonna be crazy here
14:30
same as last time whine that it was rigged go to court lose every time
good thing im bouncing next year
oh yeah
JumpySubsequentDolphin
14:31
why won’t ASU send my scholly info ☹️
WorthlessAttractiveZombie
14:31
they sent mine about 3 hours after i got the initial acceptance video thing
I just wanna hear back from them
14:31
the adcomm office got there at 10 am took a two hour lunch at 12 and left at 3:30 -- trust me im from the year 2076
lol
WorthlessAttractiveZombie
14:32
lavender, they should usually get back within a month of going complete
okie doke, thank u!
JumpySubsequentDolphin
14:35
@WorthlessAttractiveZombie: good to know! I thought I missed SMTH bc someone told me they got their admissions packet before the video lol
BulbasaurNoLikeCardio
14:35
I got school that have me under review for over a month... just hope it puts me in their first wave of As
TackyProudYogurt
14:39
Anyone know if asu releases decisions all at once or if they trickle out throughout the day?
WorthlessAttractiveZombie
14:39
I'm pretty sure it's a trickle because they send you a personalized video too
TackyProudYogurt
14:40
Ah okay so I do need to continue refreshing my email every 10 seconds
WorthlessAttractiveZombie
14:40
I would say potentially. I received my email/video around noon eastern time, and I've seen people get it past 5pm eastern
coolgirl
14:40
Does anyone know if pending decision means I’ll get a response soon? My status changed
WorthlessAttractiveZombie
14:41
oooh which school?
TheMidwestMonger
14:42
^^
BulbasaurNoLikeCardio
14:42
@coolgirl: does it say that on the lawhub portal? My one A this cycle it said pending decision on their applicant portal and that they will email me in 24hrs the results.
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