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LSDefine
Simple English definitions for legal terms
satisfaction piece
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A quick definition of satisfaction piece:
Term: Satisfaction Piece
Definition: A written statement that says one person has paid back what they owed to another person, and the other person agrees that the debt has been paid. This is also called a certificate of discharge or satisfaction.
Examples: When you borrow money from someone, you have to pay it back. Once you have paid it all back, the person you borrowed from might give you a satisfaction piece to show that you don't owe them anything anymore.
A more thorough explanation:
A satisfaction piece is a written statement that confirms that one party, usually a debtor, has fulfilled their obligation to another party, who then accepts the discharge. It is also known as a certificate of discharge or satisfaction.
For example, when a person pays off their mortgage, the lender will provide them with a satisfaction piece to confirm that the debt has been discharged.
A Saturday-night special is a type of handgun that is easily obtained and concealed. It is often associated with crime and violence.
For instance, in some cities, there are laws that prohibit the possession of Saturday-night specials due to their association with criminal activity.