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LSDefine

Simple English definitions for legal terms

backwardation

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A quick definition of backwardation:

Backwardation: When someone sells something but needs more time to deliver it, they may have to pay a fee to the buyer. This fee is called backwardation. It's like a penalty for not delivering on time.

Backwardation is often used in the securities market, where buyers and sellers trade stocks and bonds. If a seller can't deliver the securities on the agreed-upon date, they may have to pay backwardation to the buyer. This helps ensure that the buyer doesn't lose money because they couldn't get the securities they wanted when they wanted them.

Overall, backwardation is a way to make sure that transactions are fair and that everyone gets what they need. It's like a way of saying "sorry" when things don't go according to plan.

A more thorough explanation:

Definition: Backwardation is a fee paid by the seller of securities to the buyer to allow delivery after the original delivery date.

For example, if a seller of oil futures contracts cannot deliver the oil on the agreed-upon date, they may pay a fee to the buyer to extend the delivery date. This fee is known as backwardation.

Another example is in the stock market. If the price of a stock for future delivery is lower than the current price, it is said to be in backwardation. This means that investors are willing to pay a premium to receive the stock now rather than in the future.

Backwardation is a way for sellers to avoid defaulting on their delivery obligations and for buyers to receive compensation for the delay in delivery.

back-to-work agreement | backward integration

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I don't really know where I want to end up practicing yet, but I've enjoyed living in the midwest so far. I think I might ultimately like to end up as in-house corporate for the work life balance.
ParallelAgreeableOrangutan
11:53
I lived in Bloomington for a long time, can't speak to the law school but can answer Qs about the city if you'd like
@ParallelAgreeableOrangutan: How do you think it is to live in as a 20-something going to grad school? The comparison is Iowa city, so not an extremely high bar for liveliness. (No offense intended towards IC. I think it's a lovely place)
NosyBeagle
11:56
@NemoPropheta: taking it in august. feels like ill never be ready but f it we ball
I think the secret to happiness is fuck it we ball
is one ever truly ready for something? probably not. but fuck it we ball!
12:20
I went ahead and registered for August as well since it was free
12:20
Getting 2 180s back to back is better than one right
ronniedoeslaw
12:26
In all of your research, what minimum LSAT score do you believe gets you into UIC law?
12:27
I remember the last guy on here who was convinced he was gonna get a 180 bc he scored in that range on PTs
12:28
🤐
12:29
ugh someone come rub my bellly
12:33
@esoterica: he wasnt on that grindset mentality. im him
12:34
Im gonna drink so much saratoga water on test day
ParallelAgreeableOrangutan
12:43
@LawOfAchilles: (hiii sorry so slow, am at work) Bloomington is lovely, I loved it as an undergrad and as a 20something non-student.
ParallelAgreeableOrangutan
12:45
If you're outdoorsy, it's nice--obv no coasts or mountains, but two small lakes really close, lots of places you can go on a lowkey hike or camp without paying park fees or anything really
ParallelAgreeableOrangutan
12:47
super bikable, decent food to be had, things to do but not so much that you'll be distracted and never study lol. idk I'm a fan haha, I miss it
lmao I just got the LSAC notif that I'm under review at IU Maurer
ParallelAgreeableOrangutan
13:11
May you have better luck than I did :)
YAYYY JUPITER
@LawOfAchilles: if you like the outdoors, you're gonna love bloomington.
both uiowa and iu have a good reputation, especially with midwestern law firms. their alumni resources are pretty top notch too.
14:11
Hey guys, are any T14 schools doing tours during the summer?
NosyBeagle
14:24
@NemoPropheta: the lsat was free for you? lucky
14:26
who else piss on the floor during their lsat
sloth i gotta know about caesar beans
14:35
@NosyBeagle: yeah you just have to be poor and then they let you take it for free twice
NosyBeagle
14:54
ah ok it's a fee waiver. i think ill do that
NosyBeagle
14:54
the test got more expensive since the last time i took it
NosyBeagle
14:54
smh
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