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LSDefine

Simple English definitions for legal terms

conventional interest

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A quick definition of conventional interest:

Conventional interest is when someone earns money by lending it to someone else. It's like when you give your friend some money and they promise to pay you back with a little extra. That extra money is the interest. Interest can also mean having a legal right to something, like a piece of property or money. There are different types of interests, like a direct interest which is a definite right, or a contingent interest which you can only get if something else happens first.

A more thorough explanation:

Conventional interest is a type of interest that is agreed upon by both parties in a financial transaction. It refers to the amount of money that a borrower agrees to pay a lender in exchange for borrowing money.

For example, if you take out a loan from a bank, you will have to pay back the amount you borrowed plus interest. The interest rate is agreed upon by both you and the bank, and it is usually expressed as a percentage of the amount borrowed.

Another example of conventional interest is the interest you earn on a savings account. When you deposit money into a savings account, the bank pays you interest on that money. The interest rate is agreed upon by both you and the bank, and it is usually expressed as a percentage of the amount deposited.

Overall, conventional interest is a common aspect of financial transactions and is used to compensate lenders for the use of their money.

conventional custom | conventionalism

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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
Dkk
0:23
I will take In N Out everyday over it when I can though.
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