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LSDefine

Simple English definitions for legal terms

satisfaction of debt

Read a random definition: vicarious

A quick definition of satisfaction of debt:

Term: Satisfaction of Debt

Definition: Satisfaction of debt means giving something to fulfill an existing legal or moral obligation. It is different from performance because it is always something given as a substitute or equivalent of something else. For example, paying off a debt is a satisfaction of debt. It can also refer to the payment of a legacy provided for in a will during the testator's lifetime.

A more thorough explanation:

Definition: Satisfaction of debt refers to the act of fulfilling an obligation, usually by paying off a debt in full. It can also refer to the giving of something with the intention of extinguishing an existing legal or moral obligation.

For example, if someone borrows money from a friend and then pays back the full amount, that would be considered satisfaction of debt. Similarly, if a company owes money to a supplier and then pays off the debt, that would also be satisfaction of debt.

Another example of satisfaction of debt is when a testator pays a legacy provided for in a will during their lifetime. This is known as a satisfaction piece and is intended to fulfill the testator's obligation to the beneficiary.

Overall, satisfaction of debt is about fulfilling obligations and settling debts, whether through payment or other means.

satisfaction contract | satisfaction of lien

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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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