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Simple English definitions for legal terms

backadation

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A quick definition of backadation:

Backadation is a term used in the world of securities. It refers to a situation where the seller of securities pays a fee to the buyer so that the buyer will allow delivery after the original delivery date. This is also known as backwardation or an inverted market.

A more thorough explanation:

Definition: Backadation is a term used in securities trading that refers to a fee paid by the seller of securities to the buyer to allow delivery after the original delivery date. It is also known as backwardation or inverted market.

Example: Suppose a seller has agreed to deliver a certain number of securities to a buyer on a specific date. However, due to unforeseen circumstances, the seller is unable to deliver the securities on the agreed-upon date. In this case, the seller may offer to pay a fee to the buyer to allow delivery after the original delivery date. This fee is known as backadation.

Explanation: The example illustrates how backadation works in securities trading. When a seller is unable to deliver securities on the agreed-upon date, they may offer to pay a fee to the buyer to extend the delivery date. This fee compensates the buyer for the delay in delivery and allows the seller to fulfill their obligation at a later date.

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General

General chat about the legal profession.

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ClockworkBlue

11:21

Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."

TheAdoptedOne

11:21

imagine if it was like Berkley applications

1a2b3c4d26z

11:22

Election status: Complete

1a2b3c4d26z

11:22

For months

triplethread

11:23

erection day

TheAdoptedOne

11:23

https://www.reddit.com/r/lawschooladmissions/comments/1gixhib/berkeleys_application_is_snobby_af/

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

ClockworkBlue

11:25

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

TheAdoptedOne

11:28

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

ClockworkBlue

11:31

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?

KnowledgeableRitzyWasp

11:33

the more risk you take the higher chance of it backfiring

TheAdoptedOne

11:33

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

KnowledgeableRitzyWasp

11:33

safe is always better

ClockworkBlue

11:34

All good points

triplethread

11:34

@TheAdoptedOne: amazing

ClockworkBlue

11:35

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

TheAdoptedOne

11:37

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

TheAdoptedOne

11:38

"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

TheAdoptedOne

11:41

getting lunch no one say anything funny or do anything cool for 15 mins

triplethread

11:43

my dick fell off

ClockworkBlue

11:43

Trump dropped out of the race

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