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Simple English definitions for legal terms

time-price doctrine

Read a random definition: probate in common form

A quick definition of time-price doctrine:

The time-price doctrine is a rule that says if you buy something and agree to pay for it later, the seller can charge you more than if you paid for it right away. This extra amount is to make up for the risk that you might not pay them back and for the interest they could have earned if you paid right away. This rule doesn't apply to people who really need to borrow money and might be taken advantage of by lenders.

A more thorough explanation:

The time-price doctrine is a rule that applies to debts that arise from a purchase and sale. It states that if a higher price is charged for a deferred payment than for an immediate payment, the usury laws do not apply. This means that the seller can charge more for a product if the buyer chooses to pay for it over time instead of all at once.

For example, let's say you want to buy a new TV that costs $1,000. The seller offers you two options: pay $1,000 upfront or pay $1,200 over the course of a year. If you choose to pay over time, the extra $200 is considered compensation to the seller for the risk that you might default on your payments and for the interest they could have earned if you had paid upfront.

The time-price doctrine is important because it recognizes that buyers who choose to pay over time are not in the same position as borrowers who are forced to take out loans from potentially predatory lenders. Buyers have the option to save up and pay the cash price, while borrowers may not have that luxury.

time-price differential | time-sharing

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Dkk
11:05
Make em read books and hope they go that route.
LSDFan
11:05
give them a TBI as soon as possible
Dkk
11:06
LMFAO
11:06
@Dkk: "im the man of the house now i am buying a gun:
babycat
11:06
For one I would try not asking questions that start with “How do you recommend grooming a child?”
11:06
lol people just have bad connotations with it, is it grooming to have your kid play hockey with you and watch games so they want to play when they turn 6?
Dkk
11:06
@EvolBunny: Maybe, maybe but I think the TBI is better advice.
11:07
yes, is it bad?
gtown baby talk to me .... i know ppl on reddit are mad at u rn maybe like give some As so ppl chill out (mad for valid reason)
Dkk
11:07
From google "TBI stands for traumatic brain injury, which is an injury to the brain caused by an external force"
LSDFan
11:07
all SF operators have TBI's
11:07
@shaquilleoatmeal: what do you mean by invite, interview invite?
11:07
all serial killers drank milk as childs
11:08
children*
11:08
whoore*
BulbasaurNoLikeCardio
11:08
@LSDFan: They call it operator syndrome now at the VA
LSDFan
11:09
lol
11:09
I thought it was door kicker syndrome from all the breaching
Dkk
11:09
Ahh childhood, what a sweet sexual time of discovery. Takes me back.
BulbasaurNoLikeCardio
11:09
Who knew firing thousands of rounds and being next to explosions was bad for our brains
11:09
It is almost like the people doing that used to die fast
11:10
Didnt plan on anyone living long enough lol
11:10
I long to die on a european battlefield
11:10
thats the true white mans burden
11:10
calm down mostly putin
babycat
11:10
yeah fuck gtown btw
LSDFan
11:10
they don't even kick doors. They put C4 in a dip can and tape it to the wall
11:10
I am sure they kick some doors but yes
11:11
@EvolBunny: im a uki
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