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LSDefine

Simple English definitions for legal terms

cosign

Read a random definition: judicial council

A quick definition of cosign:

Term: Cosign

Definition: When someone cosigns, they sign a paper with another person who is borrowing money. This means that if the borrower can't pay back the money, the cosigner will have to pay it back instead. Cosigners are often used for things like renting an apartment, leasing a car, or getting a credit card. If the borrower doesn't pay and the cosigner doesn't pay either, the lender can take legal action against both of them and it could hurt the cosigner's credit score.

A more thorough explanation:

Definition: When someone cosigns, they sign a document with another person who is borrowing money or leasing something. By cosigning, the person agrees to share the responsibility of paying for the item or service. If the primary borrower cannot pay, the cosigner will be responsible for paying instead. Cosigners are often used for apartment leases, car leases, and credit card applications to provide the lender with some security that they will be able to financially recover for the good. If the primary borrower stops making payments and the cosigner refuses to make payments, the lender may legally go after both parties and as a result, the cosigner’s credit could suffer.

Example: Sarah wants to lease a car but doesn't have a good credit score. Her friend, John, agrees to cosign the lease with her. This means that if Sarah can't make the payments, John will be responsible for paying them instead. By cosigning, John is helping Sarah get the car she needs, but he is also taking on some risk.

Example: Mark wants to rent an apartment, but the landlord is worried that he won't be able to pay the rent on time. Mark's parents agree to cosign the lease with him. This means that if Mark can't pay the rent, his parents will be responsible for paying it instead. By cosigning, Mark's parents are helping him get the apartment he wants, but they are also taking on some risk.

These examples illustrate how cosigning works. When someone cosigns, they are agreeing to take on some of the responsibility for paying for something. This can be helpful for the primary borrower, but it also means that the cosigner is taking on some risk. If the primary borrower can't pay, the cosigner will be responsible for paying instead.

corruption | cosigner

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[] 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
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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