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Simple English definitions for legal terms

earnest-penny

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A quick definition of earnest-penny:

Term: Earnest-Penny

Definition: An earnest-penny is a small amount of money paid when making a deal or agreement. It is also known as God's penny or Holy Ghost's penny. This payment shows that the buyer is serious about the deal and binds both the buyer and seller in a contract of sale. It is like a promise to buy something and is an important part of making a deal.

A more thorough explanation:

Definition: Earnest-penny, also known as God's penny or denarius Dei, is a small sum of money paid by a buyer to a seller as a sign of good faith and commitment to a contract of sale. It is a historical term that was commonly used among merchants in Western Europe.

Example: In medieval times, a buyer who wanted to purchase a horse from a seller would give an earnest-penny to the seller as a sign of commitment to the sale. The seller would then accept the earnest-penny and agree to sell the horse to the buyer at the agreed-upon price.

Explanation: The example illustrates how an earnest-penny was used as a form of security in a contract of sale. By giving the seller an earnest-penny, the buyer showed that they were serious about the purchase and committed to following through with the sale. The seller, in turn, accepted the earnest-penny as a sign of good faith and agreed to sell the item to the buyer. This helped to establish trust between the two parties and ensured that the sale would be completed as agreed.

earnest money | earning asset

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14:42
lilypad when did u apply
14:42
i am dreading the penn r
@PuppyBot: oh ok makes sense
renard99
14:43
@jackfrost11770: It's traditionally tough to get off it but not impossible. Their waitlist isn't ranked so it's certainly within reach if you're interested enough
lilypadfrog
14:43
@ChowieBean: end of nov
i applied nov. 15 lily
or 12th
renard99
14:43
Also Jack ik you and I haven't talked in a bit but we have similar stats, backgrounds, WE. If you ever want solace in this messy process text me on Discord
14:44
im still in the queue to be reviewed for penn so
lilypadfrog
14:44
@SplitterusClitterus: I applied like two weeks later. It was one of my last apps
jackfrost11770
14:44
I mean I think you're more likely to get WL than R at UPenn lmao, I'm taking it as an R whatever
ReminiscentZestyFish
14:45
Tru
GreyCeaselessMammoth
14:45
notHim at it again
14:45
notHim is a born WINNER
14:47
ya i basically have penn r
Trismegistus
14:48
how would you know
14:48
uh wdym. i didnt get penn A or penn WL
jackfrost11770
14:48
Check substatus, it's not an update. I didn't even notice it at first
14:48
Substatus?
14:48
i cant get into my penn rn so im just assuming
14:48
same @Eggan
cumsock
14:49
carole baskin sold all her land
14:49
If it says under committee review I’m still alive right
cumsock
14:49
for 20 million fuckin dollars
Trismegistus
14:49
that's what mine saying @sadpadresfan
14:50
ya im on the plane so it wont let me log into lsac for some readon
14:50
for another 2 hours
lilypadfrog
14:50
im out here in miamiiiii
14:50
Whoa someone got Penn WL but Harvard A earlier what the heck
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