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LSDefine

Simple English definitions for legal terms

payoff

Read a random definition: CLAMOR 1

A quick definition of payoff:

A payoff is when someone receives a part of the money they earned, but they have to give some of it back to someone else. This can happen because of a secret agreement or when someone is forced to do it. It's like a secret payment that is not fair or honest. Sometimes, people use the word "kickback" instead of "payoff" to mean the same thing.

A more thorough explanation:

Definition: A payoff is a return of a portion of a monetary sum received, often as a result of coercion or a secret agreement.

Example: The contractor paid the city official a 5% payoff on the government contract.

Explanation: In this example, the contractor gave a portion of the money received from the government contract to the city official in exchange for some kind of favor or advantage. This is often illegal and unethical.

Definition: A kickback is a return of a portion of a monetary sum received, especially as a result of coercion or a secret agreement.

Example: The doctor received a kickback from the pharmaceutical company for prescribing their medication to patients.

Explanation: In this example, the doctor received a portion of the money paid by the pharmaceutical company in exchange for prescribing their medication to patients. This is often illegal and unethical.

Definition: A kicker is an extra charge or penalty, especially a charge added to a loan in addition to interest.

Example: The bank charged a kicker of 2% on the loan.

Explanation: In this example, the bank added an extra charge of 2% on top of the interest rate for the loan. This increases the total amount that the borrower has to pay back.

Definition: A kickout clause is a contractual provision allowing a party to end or modify the contract if a specified event occurs.

Example: The contract had a kickout clause that allowed the company to refuse to sell the land if it were unable to complete its acquisition of the new headquarters.

Explanation: In this example, the contract had a provision that allowed the company to back out of the sale of the land if they were unable to complete their acquisition of the new headquarters. This protects the company from being forced to sell the land if they are unable to complete the acquisition.

payment date | payola

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
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
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
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??
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
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.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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