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LSDefine

Simple English definitions for legal terms

indefinite payment

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A quick definition of indefinite payment:

Indefinite payment refers to a payment that has no specific end date or a payment that is not designated for a particular debt when made to a creditor who holds multiple debts of the payor. It can also refer to a series of payments with no specified due date. Payment is the act of fulfilling an obligation by delivering money or something else of value. For example, when you buy something, you make a payment to the seller in exchange for the item. A down payment is a portion of the purchase price paid in cash at the time of the sale agreement. A lump-sum payment is a large payment made all at once, while periodic payments are made over time instead of a one-time payment for the full amount.

A more thorough explanation:

Indefinite payment refers to a payment that has no specific due date or termination date. It can also refer to a payment that is not specified to which debt it should be applied when made to a single creditor who holds several of the payor's debts.

For example, if a person owes money to multiple creditors and makes a payment without specifying which debt it should be applied to, it is considered an indefinite payment. Another example is a stream of payments that has no end date, such as an annuity payment.

Indefinite payment is different from a lump-sum payment, which is a one-time payment of a large amount, and periodic payment, which is a series of payments made over time instead of a one-time payment for the full amount.

Overall, indefinite payment is a payment that lacks specificity in terms of due date or debt allocation.

indefinite failure of issue | indefinite postponement

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10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
glovediedthisishismom
10:30
5318008 now look at it upside down ;)
snow
10:31
tik tok and youtube reals has fried my brain
babycat
10:31
@glovediedthisishismom: boobies!!!
so off topic but dude eggan the weather here in nyc is insane
babycat
10:31
@BulbasaurNoLikeCardio: I wonder if you know my local psyops guy
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