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Simple English definitions for legal terms

moratory interest

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A quick definition of moratory interest:

Term: Moratory Interest

Definition: Moratory interest is a type of interest that is charged when someone is late in paying back money they owe. It is also known as prejudgment interest. Interest is the extra money that is added to the amount borrowed, and moratory interest is added when the borrower is late in paying it back. It's like a late fee for borrowing money.

A more thorough explanation:

Definition: Moratory interest is a type of interest that is charged on a debt or obligation that is not paid on time. It is also known as prejudgment interest.

Example: If a person borrows money from a bank and fails to make the payments on time, the bank may charge moratory interest on the outstanding amount. This means that the borrower will have to pay an additional amount as interest on the overdue amount.

This example illustrates how moratory interest works. When a borrower fails to make timely payments, the lender may charge additional interest to compensate for the delay in receiving the payment.

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true i love ur user
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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
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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