Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

composition deed

Read a random definition: enable

A quick definition of composition deed:

A composition deed is a written agreement between someone who owes money (a debtor) and someone they owe money to (a creditor). The agreement outlines how the debt will be discharged or adjusted. A deed is a legal document that can be used to convey property or create an obligation. It must be signed, sealed, and delivered. There are many different types of deeds, including absolute deeds, bargain-and-sale deeds, and gift deeds. A deed of trust is a type of deed that is used to secure a loan. It conveys title to real property to a trustee until the loan is repaid.

A more thorough explanation:

A composition deed is a type of deed that reflects an agreement between a debtor and a creditor to discharge or adjust a debt. For example, if a debtor owes a creditor $10,000 but cannot pay the full amount, they may enter into a composition deed to settle the debt for a lower amount, such as $5,000.

One example of a composition deed is when a business is struggling financially and enters into an agreement with its creditors to pay a portion of its debts over time. The composition deed outlines the terms of the agreement and how the payments will be made.

Another example is when an individual owes money to multiple creditors and enters into a composition deed to consolidate the debts and make a single payment to all creditors.

composition | composition of matter

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.