Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

arm's-length price

Read a random definition: up-front performance bond

A quick definition of arm's-length price:

Arm's-length price: This is a term used to describe a fair price for something that is being bought or sold between two parties who are not related to each other. It means that the price is not influenced by any special relationship between the two parties, and is based on what a similar item would cost in the open market. For example, if you were selling a car to a stranger, you would want to get an arm's-length price for it, which means a fair price that is not influenced by any personal relationship between you and the buyer.

A more thorough explanation:

An arm's-length price is a fair market value price that is agreed upon by two parties who are not related or affiliated with each other. This means that the price is determined by the forces of supply and demand, without any influence from personal relationships or business connections.

For example, if a company wants to sell a product to another company, they must agree on an arm's-length price that is fair and reasonable. If the two companies are related or affiliated with each other, they may be tempted to set a price that is not based on market conditions, but rather on their personal relationship. This would not be considered an arm's-length price.

Another example would be if a company wants to transfer assets to a subsidiary company. The two companies must agree on an arm's-length price for the transfer of assets, to ensure that the transaction is fair and reasonable.

These examples illustrate the importance of arm's-length pricing in ensuring fair and competitive business practices. By setting prices based on market conditions, rather than personal relationships, companies can avoid conflicts of interest and maintain a level playing field.

arms control | arm's-length transaction

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
the more risk you take the higher chance of it backfiring
my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality
safe is always better
All good points
triplethread
11:34
@TheAdoptedOne: amazing
I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.
1a2b3c4d26z
11:36
I was risky in maybe one or two of my essays in that some parts read as slightly humorous, but I really tried to suss out the vibe for each school. I feel like Berk and UMich may be more accommodating of a more "out there" approach than other schools I applied to
1a2b3c4d26z
11:37
but that's literally just going off vibes
it looks like Berk vid is in response to a known prompt. My thinking is it may be a counter to AI by getting people to have to respond to what is essentially an essay prompt but on video
"I think really it’s more the USNWR change that emphasizes employment outcomes in school rankings. Schools want to admit people who have the skills to be more likely to land great jobs even more than before, and being a good interviewer is a very important for that. They want to see you have the soft skills." from a reddit comment
1a2b3c4d26z
11:38
One funny thing when talking to lawyers at work is that they will always say how they wish more law schools had interviews to make sure you can like... talk to people and form sentences
getting lunch no one say anything funny or do anything cool for 15 mins
triplethread
11:43
my dick fell off
LSD+ is ad-free, with DMs, discounts, case briefs & more.