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Simple English definitions for legal terms

earnest money

Read a random definition: child-labor law

A quick definition of earnest money:

Earnest money is a deposit that a person pays when they want to buy something, usually real estate. It shows that they are serious about buying it and will complete the transaction. If the person doesn't follow through with the purchase, they may lose the earnest money. The amount of earnest money can be a lot of money, but it is important to show that the buyer is committed to the purchase.

A more thorough explanation:

Definition: Earnest money is a deposit made by a potential buyer, usually in real estate, to show that they are serious about buying the property. The deposit is often held in escrow and can be forfeited if the buyer fails to complete the transaction.

For example, if someone wants to buy a house, they may put down a deposit of $10,000 as earnest money. This shows the seller that they are serious about buying the house and are willing to put down a significant amount of money to secure the deal. If the buyer fails to complete the transaction, the seller may keep the earnest money as compensation for the time and effort they put into the sale.

Earnest money is not always required to make a purchase agreement binding, but it can be an important part of the process, especially in competitive real estate markets where multiple buyers may be interested in the same property.

earnest | earnest-penny

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texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
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
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