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LSDefine

Simple English definitions for legal terms

grace period

Read a random definition: praeceptores

A quick definition of grace period:

A grace period is a time when you don't have to pay back money you owe or you won't be charged extra fees. For example, if you have a credit card, you might have a grace period of 20 to 30 days before you have to pay interest on what you bought. This means if you pay your bill in full within that time, you won't have to pay extra. Some student loans also have a grace period after you graduate, so you don't have to start paying back your loan right away. A grace period is also included in some mortgage and insurance contracts, which means you won't be charged late fees or have your loan or contract cancelled if you don't pay on time during that time. But if you don't pay by the end of the grace period, you might have to pay extra fees or your credit might be affected.

A more thorough explanation:

A grace period is a period of time during which a borrower is not required to make payments on a debt or will not be charged a fee. This period is usually included in loan or contract agreements and is meant to give the borrower some time to make payments without incurring any penalties.

  • Credit cards: Most credit cards offer a grace period of 20 to 30 days before interest is charged on purchases. This means that if you pay your bill in full within the grace period, you won't owe any interest.
  • Student loans: Many student loans offer a grace period for at least a few months after graduation, so new graduates don't have to start repaying their loans right away.
  • Mortgages: Mortgage contracts often include a grace period during which no late fees will be charged, and the delay will not result in default or cancellation of the loan.
  • Insurance: Insurance contracts may also include a grace period during which the policyholder can make a payment without incurring any penalties.

These examples illustrate how a grace period can be beneficial for borrowers. It gives them some time to make payments without incurring any penalties, which can be especially helpful if they are experiencing financial difficulties or unexpected expenses.

governmental immunity | Graham v. Florida (2010)

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TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
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
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