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Simple English definitions for legal terms

stated rate

Read a random definition: compurgation

A quick definition of stated rate:

Stated rate: This is another term for the nominal rate, which is the interest rate that is stated or advertised by a lender. It is the rate that is used to calculate the interest on a loan or investment, but it may not reflect the true cost of borrowing or the actual return on an investment.

A more thorough explanation:

STATED RATE

The stated rate is the same as the nominal rate under interest rate.

The stated rate is the interest rate that is explicitly stated in a loan agreement or investment contract. It is also known as the nominal rate. This rate does not take into account any compounding that may occur over time. It is simply the rate that is stated upfront.

Example 1: A bank offers a loan with a stated rate of 5%. This means that the borrower will pay 5% interest on the loan each year, without any compounding.

Example 2: An investor purchases a bond with a stated rate of 3%. This means that the investor will receive 3% interest on the bond each year, without any compounding.

These examples illustrate how the stated rate is the interest rate that is explicitly stated upfront, without taking into account any compounding that may occur over time.

stated meeting | stated term

General

General chat about the legal profession.

General >T14 Off Topic

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triplethread

11:12

is it bad i lied about getting into case western bc my parents are bugging me about my first a

TheAdoptedOne

11:12

@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you

BytchiestBunny

11:12

Do you know not everyone says they were ED?

BookLover125

11:12

No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do

BookLover125

11:13

Got jokes I see

triplethread

11:13

its sooo stressful and im not even done applying

BytchiestBunny

11:13

Just apply and get the A lol

triplethread

11:13

got like 3 more apps

TheAdoptedOne

11:14

there should be a law school draft akin to the NFL Draft where law schools can recruit us

TheAdoptedOne

11:14

or a MaxPreps esque high light video where Deans can rank us

1a2b3c4d26z

11:15

In this analogy is the LSAT the NFL combine

JumpySubsequentDolphin

11:16

I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah

TheAdoptedOne

11:16

no i think there should be a Law School combine with all new drills except there is still the 40 yard dash

TheAdoptedOne

11:16

and a sub 4.5 gets you into any t14

TheAdoptedOne

11:16

LSAT can be one of the drills

letsseehowitgoesnow

11:17

so washu only called one person

ClockworkBlue

11:17

So all the D1 athletes will get into a T-14. What else is new?

BytchiestBunny

11:17

@TheAdoptedOne: that is called "Dean Poker Night" lol

TheAdoptedOne

11:18

@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+

TheAdoptedOne

11:18

this is like the schizophrenic posts JJK tik tok be putting out

TheAdoptedOne

11:19

powerscaling Law School deans up next

limpweeny

11:19

Election Day election day

TheAdoptedOne

11:19

Write in Dean Z vote

limpweeny

11:20

Saw a guy that wrote in Biden and he said no retirement for you buddy

1a2b3c4d26z

11:20

@ClockworkBlue: god I hope that's true

TheAdoptedOne

11:20

if the country was run the same as Mich Law it would be a better place

ClockworkBlue

11:21

Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."

TheAdoptedOne

11:21

imagine if it was like Berkley applications

1a2b3c4d26z

11:22

Election status: Complete

1a2b3c4d26z

11:22

For months

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