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LSDefine

Simple English definitions for legal terms

prime maker

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A quick definition of prime maker:

A prime maker is the person who is responsible for paying back a loan or debt. They are the main person who signed the agreement and agreed to be held accountable for the money borrowed. It's like being the leader of a group project, where you are the one who takes the most responsibility for making sure everything gets done correctly.

A more thorough explanation:

A prime maker is a person who is primarily responsible for a promissory note or other negotiable instrument. This means that if the note is not paid, the prime maker is the one who is legally obligated to pay it.

For example, if John signs a promissory note to borrow money from a bank, and Jane co-signs as a guarantor, John is the prime maker because he is the one who is primarily responsible for paying back the loan. If John defaults on the loan, the bank can go after him for payment before going after Jane.

Another example is if a company issues bonds to raise money, the company is the prime maker because it is primarily responsible for paying back the bondholders.

Overall, a prime maker is the person or entity who is legally obligated to pay back a debt or fulfill a financial obligation.

prime lending rate | prime minister

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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