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LSDefine

Simple English definitions for legal terms

contract rate

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A quick definition of contract rate:

Contract rate: This is another term for interest rate. It refers to the percentage of money that a borrower has to pay back on top of the amount they borrowed. For example, if someone borrows $100 with a contract rate of 5%, they will have to pay back $105 in total.

A more thorough explanation:

Definition: The contract rate refers to the interest rate specified in a loan agreement or a bond contract. It is the rate at which the borrower agrees to pay interest to the lender over the life of the loan or bond.

Example: If a borrower takes out a $10,000 loan with a contract rate of 5%, they will be required to pay $500 in interest each year until the loan is fully repaid.

The example illustrates how the contract rate is the agreed-upon interest rate between the borrower and lender. It is important to note that the contract rate may differ from the market interest rate, which is the prevailing rate for similar loans or bonds at the time of issuance. The contract rate is typically based on factors such as the borrower's creditworthiness, the length of the loan or bond, and the prevailing market conditions at the time of negotiation.

contract of affreightment | Contracts Clause

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General

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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
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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