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LSDefine

Simple English definitions for legal terms

gold clause

Read a random definition: crimping

A quick definition of gold clause:

A gold clause is a rule in a contract that says payment must be made in gold. This used to be common in contracts, bonds, and mortgages, but it is no longer allowed.

Golden handcuffs are a type of payment that is so high that an employee cannot find a job that pays as much elsewhere. This means that the employee stays in the job even if they don't like it.

A more thorough explanation:

Gold Clause: A provision in a contract, bond, or mortgage that requires payment to be made in gold. However, gold clauses are now considered void.

Example: In the past, some contracts included a gold clause that required payment to be made in gold. This meant that if someone owed money, they had to pay it in gold instead of paper money or other forms of payment.

Golden Handcuffs: A type of remuneration that is set at a high level to prevent an employee from leaving the company and receiving a similar salary elsewhere.

Example: A company may offer an executive a large salary, bonuses, and stock options to keep them from leaving for a competitor. This is an example of golden handcuffs because the executive is unlikely to leave the company for a job that pays less.

Both gold clause and golden handcuffs are terms used in business and finance. Understanding these terms can help individuals navigate contracts and compensation packages.

going witness | golden handshake

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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
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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