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LSDefine

Simple English definitions for legal terms

down payment

Read a random definition: hot-cargo agreement

A quick definition of down payment:

Down payment: When you want to buy something, sometimes you have to pay a little bit of money upfront. This is called a down payment. It shows that you are serious about buying the thing and it helps make sure that you will pay the rest of the money later. If you don't pay the rest of the money, you might lose the down payment.

A more thorough explanation:

A down payment is an initial payment made by a buyer to a seller when they agree to purchase something. This payment is usually a percentage of the total purchase price. The purpose of a down payment is to show the seller that the buyer is serious about the purchase and to provide some security for the seller.

For example, if someone wants to buy a car that costs $10,000, they might be required to make a down payment of $2,000. This down payment would be paid to the seller when they sign a contract agreeing to buy the car. The remaining $8,000 would be paid off over time, usually in monthly installments.

If the buyer fails to make their payments as agreed, the seller may be able to keep the down payment as compensation for their losses. On the other hand, if the seller fails to deliver the item as promised, they may be required to return the down payment to the buyer.

Overall, a down payment is an important part of many purchase agreements. It helps to protect both the buyer and the seller and ensures that everyone is committed to the transaction.

dower and curtesy | dowry

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
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.
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