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Simple English definitions for legal terms

arm's-length transaction

Read a random definition: landowner's royalty

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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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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