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LSDefine

Simple English definitions for legal terms

fail

Read a random definition: right of revolution

A quick definition of fail:

Term: FAIL

Definition: Fail is when two people who trade stocks or other investments don't complete the trade on the day they agreed to. This can happen when one person doesn't give the investment they promised to, or when the other person doesn't pay for it. It's like not finishing your homework on time. Fail can also mean when a business or bank can't pay its debts and goes out of business.

A more thorough explanation:

Fail is a term used in the world of securities brokers. It refers to a situation where the delivery and payment of securities do not happen on the agreed-upon settlement date. This is also known as a fail contract. There are two types of fails:

  • Fail to deliver: This is when the selling broker fails to deliver the securities to the buying broker by the settlement date.
  • Fail to receive: This is when the buying broker fails to receive the securities from the selling broker by the settlement date.

Fail can also be used as a verb with three different meanings:

  1. To be unsuccessful or fall short of expectations. For example, "The company failed to meet its sales targets."
  2. To become bankrupt or insolvent. For example, "The business failed due to poor financial management."
  3. To lapse or become invalid. For example, "The contract failed because one of the parties did not fulfill their obligations."

Example 1: A broker agrees to sell 100 shares of a company to another broker for $10,000. The settlement date is set for two days later. However, on the settlement date, the selling broker fails to deliver the shares to the buying broker. This is an example of a fail to deliver.

Example 2: A broker agrees to buy 100 shares of a company from another broker for $10,000. The settlement date is set for two days later. However, on the settlement date, the buying broker fails to receive the shares from the selling broker. This is an example of a fail to receive.

Example 3: A company signs a contract with a supplier to deliver goods within a month. However, the supplier fails to deliver the goods within the agreed-upon time. This is an example of a fail to fulfill obligations.

These examples illustrate how a fail can occur in the world of securities brokers and how it can also refer to other situations where there is a failure to fulfill obligations.

faggot | failed devise

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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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