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Simple English definitions for legal terms

arm's-length transaction

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A quick definition of arm's-length transaction:

Arm's-Length Transaction: This means a fair and honest deal between two people or companies who are not related to each other. It's like when you trade your toy with a friend's toy, and you both agree that it's a fair trade. In business, it's important to have arm's-length transactions to make sure that everyone is treated fairly and no one is taking advantage of anyone else.

A more thorough explanation:

An arm's-length transaction is a transaction between two parties who are independent and have no relationship with each other. In this type of transaction, both parties act in their own self-interest and try to get the best deal possible.

For example, if you want to sell your car to a friend, it would not be considered an arm's-length transaction because you have a relationship with your friend. However, if you sell your car to a stranger, it would be considered an arm's-length transaction because you have no relationship with the stranger.

Another example of an arm's-length transaction is when a company buys goods or services from another company. The two companies have no relationship with each other and are only interested in getting the best deal possible.

These examples illustrate the definition of an arm's-length transaction because in both cases, the parties involved are independent and have no relationship with each other. They are only interested in getting the best deal possible and acting in their own self-interest.

arm's-length price | army

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JumpySubsequentDolphin
11:09
does WUSTL send emails or call?
JumpySubsequentDolphin
11:09
or both?
11:10
I got a call first
JumpySubsequentDolphin
11:10
I interviewed like two weeks ago, not sure how quick they get back to peeps post interview
JumpySubsequentDolphin
11:10
but my interview was a disaster so not holding onto hope
Late to the party but my name is Paul Leachman in Delray Beach, FL (WashU pls respond)
11:11
Why is it taking so long for WashU to get back to me. Ppl are getting acceptances in a month or less
letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
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