Warning

Info

LSDefine

Simple English definitions for legal terms

bought and sold notes

Read a random definition: declaration under penalty of perjury

A quick definition of bought and sold notes:

Bought and Sold Notes: These are two pieces of paper that a broker uses to keep track of the sale of a note. One note is sent to the person who bought the note, and the other note is sent to the person who sold the note. It helps the broker keep track of who bought and sold the note.

A more thorough explanation:

Definition: Bought and sold notes are two memoranda created by a broker to document the sale of a note. The broker sends the bought note to the purchaser and the sold note to the seller.

Example: Let's say John wants to sell a promissory note to Jane. John contacts a broker who helps him find a buyer. The broker creates two memoranda: a bought note and a sold note. The bought note is sent to Jane to show that she has purchased the note, and the sold note is sent to John to show that he has sold the note.

Explanation: The bought and sold notes are important documents that provide evidence of the sale of a note. The bought note is proof that the purchaser now owns the note, while the sold note is proof that the seller has sold the note. These notes are typically used in financial transactions and can be helpful in resolving any disputes that may arise.

bottomland | bought note

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
19:11
Nah, the fucked up thing about therapists is they try and make you think your parents are your enemy 99% of the time and really they should be telling you that your parents have almost no effect on the rest of your life. If they can get you to keep focusing on your parents they can keep making money.
19:12
Yeah, my life really does flow in about 5 years periods.
19:12
My crypto also flows in 5 day epochs too.
19:16
what do you do with your days as an unemployed crypto guy? do you play an instrument or something
19:47
please lawd
19:47
forgive me
19:47
its time to go back to tha old me
19:50
this is what i feel like when i get one single drill question right
19:50
when u get one wrong ;(
therapist slander detected
1a2b3c4d26z
20:37
Anyone got any polymarket locks
1a2b3c4d26z
20:37
Is anyone in here cool like fr cool
1a2b3c4d26z
20:37
Like watch college football cool
1a2b3c4d26z
20:37
Or like
1a2b3c4d26z
20:38
Frat
1a2b3c4d26z
20:39
Sorry guys I'm bored trying to get my Berkeley essay to 4 pages
20:40
no way they want four pages that’s crazy
20:41
bitches wanna be different sooo bad 😴
1a2b3c4d26z
20:42
Technically they want 3 to be completely fair to the powers that be, so I'm really trying to push out to 3
1a2b3c4d26z
20:42
But it's 1/2 inch margins
20:44
assuming it was 2 already, you’ve totally got 3 double spaced pages in you
20:45
should I watch the quirky umich dean videos? i feel like all of you have seen them except me but I can’t work up any enthusiasm for the idea
1a2b3c4d26z
20:54
I like Dean Z not sure why she gets slandered sometimes
1a2b3c4d26z
20:54
I would say yeah, they're helpful. But they can verge on unproductive and stress-inducing if you watch enough of them (especially the application read-through ones)
21:07
okay I’ll check them out
21:40
hey so where do i see my LSAC GPA bc i know they calculate it differently
21:40
sorry new to dis
LSD+ is ad-free, with DMs, discounts, case briefs & more.