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Simple English definitions for legal terms

time insurance

Read a random definition: kiter

A quick definition of time insurance:

Time insurance is a type of insurance that helps protect against unexpected events that may happen in the future. It is important to remember that time is valuable and should not be wasted. When making agreements or contracts, it is important to include a time-is-of-the-essence clause to ensure that all parties involved understand the importance of timely performance.

A more thorough explanation:

Time insurance is a type of insurance that provides coverage for a specific period of time. It is also known as term insurance. This type of insurance is usually purchased to provide financial protection for a specific period of time, such as 10, 20, or 30 years.

When time is of the essence, it means that timely performance is critical. This is often used in contracts to emphasize the importance of meeting deadlines or completing tasks within a specific timeframe. For example, if a contract includes a time-is-of-the-essence clause, it means that failure to meet the deadline could result in a breach of contract.

A time-is-of-the-essence clause is a contractual provision that makes timely performance a condition. This means that the parties involved must complete their obligations within the specified timeframe. For example, if a construction contract includes a time-is-of-the-essence clause, it means that the contractor must complete the project by the deadline specified in the contract, or they could be in breach of contract.

Example: A construction contract includes a time-is-of-the-essence clause that requires the contractor to complete the project within six months. If the contractor fails to complete the project within the specified timeframe, they could be in breach of contract and face legal consequences.

time immemorial | time letter of credit

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every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
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