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Simple English definitions for legal terms

assumption clause

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A quick definition of assumption clause:

An assumption clause is a part of a mortgage agreement that says no one can take over the mortgage without the permission of the lender. It can also be a provision in a contract where the person taking over the contract agrees to take on the responsibilities of the person who originally had the contract.

A more thorough explanation:

An assumption clause is a provision in a mortgage or other financial agreement that restricts the transfer of the obligation to another party without the consent of the lender or creditor.

For example, if you have a mortgage on your home, the assumption clause in the loan agreement may prevent you from selling the property to someone else and transferring the mortgage to them without first obtaining approval from the lender.

In another scenario, an assumption clause may be included in a contract for the sale of a business. The buyer may agree to assume certain liabilities or obligations of the seller as part of the purchase agreement.

These examples illustrate how an assumption clause can be used to protect the interests of the lender or creditor by ensuring that they have control over who assumes the obligation and under what terms.

assumpsit | assumption fee

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8888887777776t6t
21:23
I hope you're right.
their app closes today, so they need to fill out a class w/ their current pool.
8888887777776t6t
21:27
I don't really understand how they could overlook IIs though. Like, do you mean they made a mistake in overlooking them or that they deliberately set them temporarily aside for some reason?
the latter
additionally, idt they go by sent date, most of the A's seem to be mixed dates
Done with my hail mary cornell app
No more living in regret abt skipping them the one year they decide to like splitters
8888887777776t6t
21:31
Bro, it's not a hail mary. You have a 180.
8888887777776t6t
21:33
@sufferchildrensmiths: Also, you're making me more hopeful (though I still want to keep my expectations low at this point). For we do have a fair amount in common besides the 1/22 II date. We both submitted on the same date, we have the same GPA, and we both have a grad degree.
8888887777776t6t
21:37
I'm at 15/15, so I'm going to stop talking now. :)
Good luck, I am glad hope has returned
0:16
sup everybody
hello lsd.law user hotwhale
good to meet you
DLH
1:12
Silly question: Is the standard procedure for withdrawing an acceptance/waitlist to simply email the admissions department/primary contact?
@FranticSpiffySwallow: You'll get into a top school
some reverse-splitter will counteract your GPA
if your school does not do out of 4.3, then you have nothing to worry about. :)
Pongleton
11:56
For a scholarship that has an additional essay do yall think the scholarship committee reads your full app to that school plus the extra essay or just the extra essay? Trying to figure out if things would be too repetitive
[] ararara
12:19
@DLH: yes!
Ijustwannagetinman
12:28
What schools do we expect to have a Monday wave
CLS
cornell mayeb
CTCSH
13:05
@DLH: just let it sit there lol not your problem
[] ararara
13:08
@CTCSH: hahaha no! It’s important for people to withdraw their apps so other people can get in!
jb2028
13:56
@Pongleton: You can ask them
jb2028
13:56
Emailed NYU, they confirmed they do (and then yeeted me in the first round of both the RTK and Furman, lol)
Ijustwannagetinman
14:12
Does CLS stand for Cornell or Columbia
Columbia
Ijustwannagetinman
14:18
Purrrr
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