LSDefine

Simple English definitions for legal terms

letter of commitment

Read a random definition: marital privilege

A quick definition of letter of commitment:

A letter of commitment is a written promise from a lender to give someone a loan. The letter usually says how much money the lender will give, how much interest the borrower will have to pay, and other important details. It's also called a commitment letter.

A more thorough explanation:

A letter of commitment is a written document that outlines an offer made by a lender to grant a mortgage loan. It includes details such as the loan amount, interest rate, and other terms of the loan.

For example, if someone is looking to buy a house and needs a mortgage loan, they may receive a letter of commitment from a lender. The letter will state the amount of money the lender is willing to loan, the interest rate, and any other conditions that must be met.

This letter is important because it shows that the lender is committed to providing the loan and gives the borrower a clear understanding of the terms of the loan. It can also be used as proof of financing when making an offer on a house.

letter of comment | letter of credence

General

General chat about the legal profession.

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jackfrost11770

20:59

ALSO CONGRATS!

texaslawhopefully

21:03

Congrats1!

Ratratta

21:15

Miami A, yall I'm so excited I could cry.

Ratratta

21:15

Feel like I can finally stop holding my breath!! Whew!!!

[] baddestbunny

22:16

every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles

Dkk

22:32

Nice! @Macaque

Dkk

22:32

@Aromatic, Have to guess.

Dkk

22:33

That sucks @Bunny do you have to go to the hospital?

[] baddestbunny

22:40

I said accosted not assaulted

JazzyGazelle

23:35

guys. my notre dame address just went long is this good or bad

1a2b3c4d26z

23:37

Oooooo me too

JazzyGazelle

23:37

omg is this good or bad

Dkk

23:47

Idk if gender roles are gunna fix that then.

JazzyGazelle

23:49

it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??

180SupremeWarrior

23:53

hows ED 2 compared to ED 1?

Dkk

0:10

No idea

windyMagician

0:34

reporting live to say my ndls address also went long

JazzyGazelle

0:59

does it mean anything ^

Dkk

2:21

NDLS and Fordham took a very long time last year. It's good info for people to know.

[] baddestbunny

4:29

let’s get after it boys and girls

Dkk

5:21

I gtg to bed soon.

Dkk

5:22

Big day today. Gunna be a crazy one. I will sleep through the first half.

jackfrost11770

5:37

good morning lsd it is 5 am EST

jackfrost11770

5:37

also jazzy my ndls address went long ages ago i sadly do not think it means anything

jackfrost11770

5:38

my stanford address also went long LOL i think at most it's an indicator it's under review

WorthlessAttractiveZombie

7:44

My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs

WorthlessAttractiveZombie

7:46

Also has anyone's date disappeared for W&L? Mine did last night

Manysko

7:55

@WorthlessAttractiveZombie: mine did yesterday morning

Manysko

7:56

Oops sorry I meant Vilanova. Mine disappeared last week

soapy

8:48

UMN under review! As predicted, decisions are gonna come out early December

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