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LSDefine

Simple English definitions for legal terms

guaranteed-purchase contract

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A quick definition of guaranteed-purchase contract:

A guaranteed-purchase contract is an agreement between two or more parties that creates obligations that can be enforced by law. It is a promise or set of promises that the law recognizes as a duty. This type of contract guarantees that a purchase will be made, and it is also known as a guaranteed-sale contract. The contract can be in writing, but the rules of law usually refer to the agreement itself, not the physical document.

A more thorough explanation:

A guaranteed-purchase contract is a type of contract that guarantees the sale of a product or service. It is also known as a guaranteed-sale contract. This type of contract is commonly used in real estate, where a seller may enter into an agreement with a real estate agent to sell their property within a certain timeframe or for a certain price.

For example, a homeowner may sign a guaranteed-purchase contract with a real estate agent that guarantees the sale of their home within 90 days. If the home is not sold within that timeframe, the real estate agent may be required to purchase the home themselves at a predetermined price.

Another example of a guaranteed-purchase contract is a car dealership offering a buyback program. The dealership may guarantee to buy back a customer's car within a certain timeframe or for a certain price, providing the customer with a sense of security and peace of mind.

Overall, a guaranteed-purchase contract is a way for parties to ensure the sale of a product or service, providing a level of protection and assurance for both parties involved.

guaranteed investment contract | guaranteed-sale contract

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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
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
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