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Simple English definitions for legal terms

at arm's length

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A quick definition of at arm's length:

Term: At Arm's Length

Definition: When two people or groups are not close or related, they may do business or make deals with each other. This is called an "arm's-length" transaction. It means that both parties have equal power and are not in a confidential relationship. They are not working together as friends or family, but as separate entities. This type of transaction does not create any special duties between the parties.

A more thorough explanation:

Definition: At arm's length refers to dealings between two parties who are not related or not on close terms and who are presumed to have roughly equal bargaining power. It means that the parties involved in the transaction are not in a confidential relationship and are dealing with each other as strangers.

Example: A company that is owned by a father and son may not be considered an arm's-length transaction because the parties involved are related and may not have equal bargaining power. However, if the same company is sold to an unrelated third party, the transaction would be considered an arm's-length transaction.

Explanation: The example illustrates that an arm's-length transaction involves parties who are not related and do not have a close relationship. In an arm's-length transaction, the parties are presumed to have equal bargaining power, which means that they can negotiate the terms of the transaction without any undue influence or pressure from the other party. This ensures that the transaction is fair and equitable for both parties.

asylee | atavunculus

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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.
coolgirl
14:43
FAMU
coolgirl
14:44
I got pending decision a week ago on my portal but haven’t seen any updates since
JumpySubsequentDolphin
14:45
@WorthlessAttractiveZombie: yours was personalized?! mine wasn’t 🙁
BulbasaurNoLikeCardio
14:45
That would kill my soul, see other people in that schools specific chat saying the same thing. Maybe they give a decision by mail?
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