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Simple English definitions for legal terms

ringing out

Read a random definition: Code of Judicial Conduct

A quick definition of ringing out:

Term: Ringing Out

Definition: Ringing out is a way for commodities dealers to end contracts for future delivery before the actual delivery date. They do this by using offsets, cancellations, and price adjustments, which saves them the cost of actually delivering the goods and changing ownership. It's like canceling a plan before it happens, so you don't have to go through with it and spend money on it.

A more thorough explanation:

Definition: Ringing out is a method used by commodities dealers to discharge contracts for future delivery in advance. This is done by using offsets, cancellations, and price adjustments, which saves the cost of actual delivery and change of possession. It is also known as ringing up.

Example: Let's say a commodities dealer has a contract to deliver 100 barrels of oil in three months. However, they realize that they won't be able to fulfill the contract due to unforeseen circumstances. Instead of delivering the oil, they can use ringing out to discharge the contract by offsetting it with another contract or adjusting the price.

Explanation: In the example, the commodities dealer uses ringing out to avoid the cost of delivering the oil and changing possession. By offsetting the contract or adjusting the price, they can still fulfill their obligation without physically delivering the oil. This method is commonly used in commodities trading to avoid the costs and logistics of physical delivery.

rigor mortis | ringing the changes

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18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
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
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