Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

earnest-penny

Read a random definition: want of consideration

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
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
LSD+ is ad-free, with DMs, discounts, case briefs & more.