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LSDefine

Simple English definitions for legal terms

forfeiture restraint

Read a random definition: distribution

A quick definition of forfeiture restraint:

Forfeiture restraint: This is when someone tries to stop a property or contract from being passed on to someone else in the future. It's like saying, "If you give this to someone else, they won't really own it." It's also called a restraint.

A more thorough explanation:

A forfeiture restraint is a legal term used to describe a situation where a conveyance or contract is made with the intention of causing a later conveyance to terminate or become subject to termination. This means that the original owner of the property or asset has the right to take it back if certain conditions are not met.

For example, if a landlord leases a property to a tenant with a forfeiture restraint clause, the landlord can take back the property if the tenant fails to pay rent or violates any other terms of the lease agreement. Similarly, if a company sells shares to an investor with a forfeiture restraint clause, the company can buy back the shares if the investor breaches any of the terms of the agreement.

Another example of forfeiture restraint is when a person sells a car to another person with a clause that allows them to take back the car if the buyer fails to make payments on time. In this case, the seller has the right to repossess the car if the buyer defaults on the payment plan.

Overall, forfeiture restraint is a legal tool that allows property owners and contract parties to protect their interests by ensuring that the other party fulfills their obligations. It is important to understand the terms of any agreement that includes a forfeiture restraint clause to avoid any misunderstandings or legal disputes.

forfeiture clause | forgavel

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BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
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