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Simple English definitions for legal terms

commodity loan

Read a random definition: plea

A quick definition of commodity loan:

A commodity loan is when someone borrows money and uses a valuable item, like cotton or wool, as collateral. This means that if they don't pay back the loan, the lender can take the valuable item instead. It's like borrowing money and putting your favorite toy as collateral.

A more thorough explanation:

A commodity loan is a type of loan that is secured by a commodity, such as cotton or wool, in the form of a warehouse receipt or other negotiable instrument. This means that the borrower uses the commodity as collateral for the loan.

For example, a farmer may take out a commodity loan using their crop as collateral. The lender will hold onto the warehouse receipt for the crop until the loan is repaid. If the borrower is unable to repay the loan, the lender can sell the commodity to recover their money.

Commodity loans are often used in the agricultural industry, where crops or livestock can be used as collateral. They allow farmers to access financing to purchase supplies or equipment, or to cover other expenses, while using their assets as security.

Commodity Futures Trading Commission | commodity option

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

babycat

10:32

@jackfrost11770: we all living the same weather. I’m abt to go to the gym

babycat

10:32

I’m listening to car seat headrest

jackfrost11770

10:33

it's the worst when the weather is this shit and there isn't even any snow like at least let it be aesthetic (although snow in nyc is the opposite of that)

snow

10:33

india ass band

LawDeke

10:33

checking in on Wake Forest. Y'all heard anything?

LSDFan

10:34

@m10 are you FLEP

m10

10:34

@LSDFan: nah lol, I am just using my GI Bill. I do not feel like going back.

LSDFan

10:34

good call

BulbasaurNoLikeCardio

10:34

@m10: 110% agree, china has a truly amazing HUMINT network and espionage skills that much of our military is infiltrated or committing willful negligence of duty in prevent and protection. @babycat: PSYOP is pretty small on the AD side but I left the community to go play with Apaches and drones in 2018/19

milktoast

10:35

Daily check in , stay chillin

Mostlylegal

10:35

anyone touring hls today?

FormerLN

10:35

Same @m10

glovediedthisishismom

10:35

https://open.spotify.com/track/5Ss6DqCldgTmIo6BekVOJT?si=2f204de5813148d7

Mostlylegal

10:36

also my softs are bordering t3-t2. would it be worth for me to R+R if im trying for t4

soap

10:36

Maybe see where you get in, then R&R if you feel it’s necessary?

m10

10:36

Psyop guys will try and convince you they are like secret masterminds. I had this one guy whose wife would call me every week and she would tell me about how her husband just like disappeared and could not be found cus he was a specialy trained psyop officer. I found his phone number and called him the same day online. That woman was gaslit so hard.

babycat

10:37

is t4 HYSC? yeah prob your odds are not too great for those with 3.7 and 171 unless you’re really extraordinary

WorthlessAttractiveZombie

10:37

I agree with soap on this one, just wait it out and see where you get into. You could always transfer (although I wouldn't go in with the intention of transferring)

soap

10:37

Transferring is hard and you don’t get money. I wouldn’t do anything with the intent of transferring

[] texaslawhopefully

10:38

Disagree with the transfer. But, yeah a 3.7, 171 is not HYSC material—so unless you’re a Rhodes scholar, or something it is highly unlikely.

JumpySubsequentDolphin

10:38

did he mean t14

JumpySubsequentDolphin

10:38

I’ve never heard anyone call it t4 hahah

JumpySubsequentDolphin

10:39

I thought it was always t6 and t3

soap

10:39

If you’re aiming for T14, that’s definitely doable

Mostlylegal

10:39

nah t4 is a thing, maybe old ive been on lsa and lsd for like 4 years now lol

m10

10:39

Fuck this all reminds me. I got to call and see if I am still being deposed.

JumpySubsequentDolphin

10:40

@Mostlylegal: oh oops hehe

BulbasaurNoLikeCardio

10:40

@m10: most of PSYOP are guys who failed SFAS and Ranger so much so they can't go back and think being SOCOM makes them SF. I loved the cultural side of it all, going to embassies and running influence operations. Doing KLEs and training with foreign militaries was amazing. Learned so much about the world by talking to those who live all over it. Then got lucky and worked with a Marine HIT overseas and would tag along when they kidnapped people to do some stuff lol The rest of the time was a lot of reports and KLEs

babycat

10:40

t4 is a concept being perpetuated by Big Chicago

soap

10:41

Chicago rejected me in undergrad, so I have beef

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