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Simple English definitions for legal terms

building loan

Read a random definition: majestas

A quick definition of building loan:

A building loan is a type of loan used to help pay for the construction of a building. The loan is given in parts as the work progresses and is used to pay the contractor, subcontractors, and material suppliers. It is a type of bridge loan, which means it is used temporarily until more permanent financing is arranged.

A more thorough explanation:

A building loan is a type of bridge loan that is primarily used for constructing a building. The loan is usually given in parts as the work progresses and is used to pay the contractor, subcontractors, and material suppliers.

For example, if a person wants to build a house, they may take out a building loan to pay for the construction costs. The loan will be given in stages as the work progresses, and the borrower will use the funds to pay the builder, electrician, plumber, and other contractors.

Building loans are a type of short-term financing that is used to cover the costs of construction until more permanent financing is arranged.

building line | building permit

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 14 👎

[] c0bra1

16:25

vibes, col, and name-knowledge wise villanova seems better, but cardozo seems better for ip/entertainment offerings + the infinitesmal chance of transferring + the alumni from my undergrad who went there really liked it

starfishies

16:26

would you ever double deposit?

[] c0bra1

16:27

the only thing stopping me from double deposit is that it was strongly frowned upon or could have adverse consequences if the schools found out

[] c0bra1

16:27

if thats not a thing i would double for sure

starfishies

16:27

is that fr ive never heard that before thats kinda wild

starfishies

16:27

this cycle is crazy i feel like double deposit is warranted in a lot of cases

[] c0bra1

16:28

id be down to double to get more time to choose but i think for the factors that i listed it would be unlikely for those to change in a significant way

[] c0bra1

16:28

from what ive understood villanova's 3rd market is nyc but the philly ip market is a little small, most of the ppl i talked to had WE in tech first and thats how they got related roles in 1L/2L

[] c0bra1

16:29

they're just so similar on the balancing scale that im second guessing in case im overtly wrong on one of them...but then again all my friends say to quit whining and pick cardozo lol

starfishies

16:30

ngl still a tough decision

starfishies

16:30

but if youre trying to end up in nyc ultimately it seems like the more obvious answer

[] c0bra1

16:31

yeahh thats what it keeps boiling down to lol

[] c0bra1

16:31

i think it would be easier for me to pick nova if the col in nyc wasn't something i was ready for but that's not a problem for me

starfishies

16:31

okay money man

[] c0bra1

16:31

more like i anticipated a way better application and intended to get into fordham lol

starfishies

16:31

you have until the 15th right i feel like u already know what your answer is

[] c0bra1

16:31

yeaaa

starfishies

16:31

i also have a weekly deposit meltdown its okay

[] c0bra1

16:31

hence why i do this little dance every weekend

[] c0bra1

16:32

LOL

starfishies

16:32

my family is sick of me

[] c0bra1

16:32

who knows maybe nyu will be so nice and let me in this week or next and then all my problems will be solved

starfishies

16:33

lol right same

uglyostrich

17:05

im freaking out what if i dont get in anywhere

[] c0bra1

17:27

@uglyostrich: don't worry i called all your schools and they said you're getting into at least 2 places

CheeseIsMyLoveLanguage

17:36

@c0bra1: https://www.lsac.org/about/lsac-policies/statement-good-admission-and-financial-aid-practices

CheeseIsMyLoveLanguage

17:37

Scroll down to commitments.

CheeseIsMyLoveLanguage

17:38

To me it seems that if you don't have all your responses yet (which all schools know it has been a crazy cycle), then you shouldn't be penalized if you put down a deposit, get a response from another school, and choose to go that direction. If the school is stinky about it, it seems you would have some recourse through LSAC

[] c0bra1

17:54

swag yeah thats cool i think ill most likely just deposit at dozo to save myself the constant back-and-forth on the decision -- i dont think ive had a conversation yet where i end up choosing nova despite my best to advocate for it lol

[] c0bra1

17:55

like i said earlier i think if the col was an issue for me id probably pick nova but my heart has always been set on ny and i think id be fine over there

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