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LSDefine

Simple English definitions for legal terms

closed transaction

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A quick definition of closed transaction:

Term: CLOSED TRANSACTION

Definition: A closed transaction is when a business deal or exchange has been completed and all the necessary steps have been taken to finalize the agreement. This means that all parties involved have fulfilled their obligations and the transaction is considered complete. Think of it like finishing a game of checkers - once all the pieces have been moved and the game is over, it's a closed transaction.

A more thorough explanation:

A closed transaction is a completed business deal where all parties involved have fulfilled their obligations and the transaction is considered final.

For example, if a person sells their car to another person and receives payment, and the buyer receives the car and all necessary documents, the transaction is considered closed. Both parties have fulfilled their obligations and the deal is final.

Another example could be a real estate transaction. Once the buyer has paid the agreed-upon price and the seller has transferred ownership of the property, the transaction is considered closed.

These examples illustrate the definition of a closed transaction because in both cases, all parties involved have completed their responsibilities and the deal is considered final. There are no outstanding obligations or issues to be resolved.

closed testament | closed trial

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18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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