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LSDefine

Simple English definitions for legal terms

down payment

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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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