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Simple English definitions for legal terms

financial contract

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A quick definition of financial contract:

A financial contract is an agreement between two or more parties that creates obligations that can be enforced by law. It can be a written document that sets out the terms of the agreement, but the term "contract" usually refers to the legal relations resulting from the agreement. This means that the parties involved have certain rights and duties that they must fulfill. A contract can be thought of as a promise that, if broken, can be remedied by the law.

A more thorough explanation:

A financial contract is a type of contract that creates enforceable obligations between two or more parties. A contract is an agreement between parties that is recognized by law.

For example, when you take out a loan from a bank, you sign a financial contract that outlines the terms of the loan. This contract creates an obligation for you to repay the loan and for the bank to provide the funds.

Another example of a financial contract is a futures contract. This type of contract is an agreement to buy or sell a specific asset at a predetermined price and date in the future. Futures contracts are commonly used in commodities trading.

Overall, financial contracts are important because they provide a legal framework for parties to enter into agreements and create enforceable obligations.

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babybunny
17:05
I’ve heard this song before!!
babybunny
17:05
hehehe
I like curse freaks too
trees1234567
17:06
chag!!! hope you’re happily enjoying your summer before you kill it at UT
babybunny
17:06
you’re real as fuck for that
babybunny
17:07
i have been working like a dog you guys
The Smiths, Radiohead, TV girl etc
babybunny
17:07
i have a full time job and two internships
babybunny
17:07
I love the smiths. what? I said i love the smiths
omg yes!
I love that you know that reference
babybunny
17:08
i get compared to summer all the time tbh
babybunny
17:08
comes with the territory of being a girl with big eyes and art hoe tastes
I'm done trying to get into law school. Just going to go play dead in some grass somewhere. Good luck all.
KnowledgeableRitzyWasp
17:10
noo battle brother
KnowledgeableRitzyWasp
17:11
don’t surrender
Tom is me in that I am also a hopeless romantic
babybunny
17:17
me too it’s a very dangerous thing to be
babybunny
17:17
also i fear i may never learn that you’re not necessarily compatible with someone just because you like the same things
babybunny
17:18
got home and the ducky is still so cute i love life
@babybunny: yeah... I learned that after my last heartbreak which culminated in my lung randomly collapsing
Plant my feet and bitterly breathe up the time that's passing
anyone have advice on submitting an additional rec letter after WL even if the admissions officer said it's not necessary? rec letter is from someone affiliated with the school..
I would still do it
18:01
not someone claiming they got accepted from the SMU WL
One of my waitlist allowed me to submit a fifth letter of rec after submitting 4 in my initial applicstion
18:03
I just hope SMU gives me a chance once my test results post :’)
If it’s another prof, I would ask the law school if it’s okay if the new recommender submitted another letter directly to admissions team, if they say yes definitely go for it
18:05
I only have one LOCI for them left and I’m waiting to use it when my last results release, otherwise I would
manifestmoreadmissions
21:02
valley SMU would be so lucky to have you you would be such an asset
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