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LSDefine
Simple English definitions for legal terms
hold out
Read a random definition: normal market
A quick definition of hold out:
Hold out: When someone says they have a certain legal status, like being a boss or a partner, even if they don't really have that status. It can also mean to not give up or give in, and to stay strong in what you believe or want.
A more thorough explanation:
Definition: To represent oneself or another as having a certain legal status or to refuse to yield or submit.
Example 1: Even though he was only a promoter, Schwartz held himself out as the principal.
Explanation: Schwartz claimed to have the legal status of a principal, even though he was only a promoter. This is an example of holding out.
Example 2: Womack held out for a higher salary and better benefits.
Explanation: Womack refused to yield or submit to the initial offer and instead stood firm in negotiating for a higher salary and better benefits. This is another example of holding out.