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LSDefine

Simple English definitions for legal terms

cosurety

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A quick definition of cosurety:

Term: COSURETY

Definition: A cosurety is a person who shares the responsibility of paying off someone else's debt or fulfilling their obligation with another person. This means that if the person who owes the debt or obligation cannot pay, the cosureties are both responsible for paying it off. A cosurety is different from a guarantor because they are directly liable, and they often do not receive any compensation for assuming this responsibility.

A more thorough explanation:

A cosurety is a person who shares the cost of performing suretyship obligations with another. In other words, a cosurety is someone who agrees to be responsible for paying off someone else's debt or fulfilling their obligations along with another person.

For example, let's say that John and Jane are both cosureties for a loan that their friend, Bob, took out. If Bob is unable to pay back the loan, both John and Jane are responsible for paying it off. They share the cost of fulfilling the obligation as cosureties.

Another example could be in a construction project where multiple contractors are hired to complete different parts of the project. Each contractor may have a cosurety who shares the cost of fulfilling their obligations in case they are unable to complete their part of the project.

These examples illustrate how a cosurety is someone who shares the responsibility of fulfilling an obligation with another person. They are both equally responsible for fulfilling the obligation, and if one person is unable to do so, the other person must step in to cover the cost.

costs to abide event | cosuretyship

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Dkk
18:43
@texaslawhopefully: Yeah, I mean it could happen to the senate and house like it did to Obama but if he keeps his overall approval rating up, even if someone does not like individual policies it's compromise: https://www.newsweek.com/donald-trumps-approval-ratings-break-records-democrats-back-him-2018900
18:43
@atwat @can run along kids and go play with your toys. the adults are talking now.
i think this cycle is so slow that we have nothing better to do than tap
*yap my b
texaslawhopefully
18:45
@Dkk: Fair. My guess is (if the DNC is smart) dems change there messaging to be more appealing to moderates, they start winning and they hopefully that encourages republicans to move back to the center.
Dkk
18:47
Yeah, exactly.
18:47
i for one STILL cannot believe donnie is prez. like gobsmacked. how did that happen? was it getting gunned down that sealed the deal?
Im starting to worry that I wont hear back from some schools before deposit deadline. Anyone have any advice? Is it possible they push back deposit dates?
i really dont wanna lose that much money
texaslawhopefully
18:48
@llama: This was the best explanation that I read for it: https://samharris.substack.com/p/the-reckoning
18:48
@GapingVariousTurkey: same bro. im not worried cause yolo, but i think an honest talk with each applicable school will allow them to give leeway
texaslawhopefully
18:48
But, yeah, I think many people were shocked
any UK law students?
18:49
@texaslawhopefully: when I have some time i will read, thanks fren. Regardless of whichever of the two [T or H] are in the WH, I truly believe expectations will be looked back on as over worried.
18:50
@thanatologist: Kentucky?
texaslawhopefully
18:51
@llama: I don't know man, maybe I've been reading way too much news but I'm worried in a way I wasn't with Biden, or would've been with Harris
18:53
@texaslawhopefully: looking back, the Rs were freaking out saying Biden was going to end the country, and the Ds were freaking out during DJTs 1st term. Neither did exceptionally bad or good, IMHO. At the end of the day, the rest of the GOV (Judaical and Congress) really put a damper on grandiose executive plans. Finally, we all know Donnie is a talker: he anchors (ie tarrifs), he talks shit, he says he will do X and never does. news eats that shit up, but I think most will not ever come to pass
Dkk
18:54
I really think it's a lot of political theater right now. I think a huge percentage of these EO's are just going to be shot down.
18:55
the news sells fear. that is their product (hence why u see COPD, heart meds, stress/ antidepressants adverts during primtime). We know trump has a big mouth, and when he opens it, he spews nonsense which gets funneled into ur ears- ratings skyrocket.
18:56
not COPD. my bad ^
dem messaging is lightyears behind MAGA messaging, part of this can be blamed on foreign governments boosting the MAGA party to destabilize the country, but the democrat old guard is so far behind MAGA strategy
18:57
@Dkk: exactly.
dems need to give way to modern leftists like AOC and bernie
18:58
@KnowledgeableRitzyWasp: AOC is my crushhhh
Dkk
18:59
It's amazing cus in 2008/2012 people were even wondering if the Republican party was still going to be a thing and then yeah, MAGA just took over.
but unfortunately the left purity tests all of its members to death, for the left their candidates have to be perfect, for the right their candidates are basically forgiven for anything. it makes it a hard sell for upcoming talent to attach to the left wing when they will cancel their politicians for any perceivable social slight
texaslawhopefully
18:59
Yeah, unfortunately that happened in part with Harris and the far-Left
19:00
@KnowledgeableRitzyWasp: see with takes like that, it is no wonder how you are called Knowledgeable Wasp
ie a lot of the left didnt vote for harris because they thought biden was too soft on israel for the I/P situation. but now they have trump who will literally hand netanyahu bombs to genocide palestinians
texaslawhopefully
19:01
And even on that issue, though, I thought Biden was very moderate, whereas the far-Left just had unrealistic expectations of where he was going to end up
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