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Simple English definitions for legal terms

bargain money

Read a random definition: per feloniam

A quick definition of bargain money:

Bargain money, also known as earnest money, is a deposit made by a buyer to show that they are serious about buying something, usually real estate. This deposit is held in escrow and is forfeited if the buyer fails to complete the transaction. The amount of bargain money can be significant, sometimes thousands of dollars. It is not necessary to make a purchase agreement binding, but it serves as a source of payment for damages if the buyer defaults.

A more thorough explanation:

Bargain money, also known as earnest money, is a deposit made by a potential buyer to show their intention to complete a transaction, usually in the context of real estate. This deposit is often held in escrow and can be forfeited if the buyer defaults on the agreement.

While earnest money has traditionally been a small amount, such as a nickel or a dollar, in real estate transactions it can be a significant sum, sometimes amounting to thousands of dollars. It serves as a source of payment for damages if the buyer fails to fulfill their obligations.

For example, if a buyer wants to purchase a house for $200,000, they may be required to put down $10,000 in earnest money. If the buyer fails to complete the transaction, the seller may keep the earnest money as compensation for any damages incurred.

It's important to note that while earnest money is often used in real estate transactions, it's not essential to make a purchase agreement binding. The exchange of mutual promises between the buyer and seller is enough to create a legally binding contract.

bargained-for exchange | bargainor

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https://www.lsd.law/search/cV9E6 this is artificially deflated because it's only below your stats
someone got into harvard and chicago with your stats
15:19
Why is that deflating it? isnt that a better indicator instead of choosing above median LSATs? Genuinely curious just wondering
when stats are close because of the variability you want a little above your stats and a little below to get more data, adcoms arent so finnicky that 2 points on the lsat is make or break unless it puts you above median, and even then 50% are below median so it's not as big of an impact as you might think. the reason the chanceme tool goes a little above and below your stats by default is to capture a more accurate picture
ie your softs/WE/essays might make you more or less competitive than any random applicant and the best way to account for that is to take a little above and a little below
15:21
got it, I was of the mindset that medians are pretty concrete so taking a +2 LSAT score range was just giving me irrelevant data. Thank you
15:21
Def my softs/essays are the strongest part of my application so hoping they shine through
they kind of are but you see with the data here is doesnt really change your chances going from 172 to 170
yeah youll be in a good place for this cycle
15:22
yeah I guess thats true, I've also been looking at "Included" not "Only" for URM so maybe that's a diff too
15:22
Appreciate it man!
yeah included is giving you data for nURM which isnt relevant for your cycle
and ofc, good luck :)
15:24
Holiday messages from law schools should be illegal
jackfrost11770
15:27
the cornell one actually gave me a heart attack no joke
15:28
@KnowledgeableRitzyWasp: Thanks! Will def update you as they come out hahaha
CynicalOops
16:09
No one cares about me the way western new england cares about me
shaquilleoatmeal
17:16
gulc sending me a "Thank you for your continuing patience" almost has me shitting myself like the dude who hiked Acatanengo volcano
18:09
i’m wishing you guys happy holidays in a more sincere and genuine and heartfelt way than any of the law schools and also giving u a little kiss on the cheek
18:10
just btw
shaquilleoatmeal
18:15
😚
1a2b3c4d26z
18:25
Hi everyone
1a2b3c4d26z
18:26
Only a few more hours til work is over then I'm off for the rest of the week
Dkk
18:48
@shaquilleoatmeal: man GULC didn't even send me that lol.
Dkk
18:53
@cheriebomb: thank you. Merry Christmas and happy Hannukka.
Dkk
18:54
Hanukka*
Dkk
18:54
And Happy Ramadan and Kwanza
Dkk
18:55
Aww Ramadan ain't till February. Never mind.
CynicalOops
19:00
Chanukka
shaquilleoatmeal
19:20
@Dkk: when did u apply? seems to be late oct apps who got the email, some interview some who have not
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