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Simple English definitions for legal terms

negotiable order of withdrawal

Read a random definition: psychotherapist–client privilege

A quick definition of negotiable order of withdrawal:

A negotiable order of withdrawal, also known as NOW, is a type of check that can be cashed at any time and is backed by funds deposited in a bank or other financial institution. It's like a promise from the bank that the money is available for withdrawal whenever the check is presented.

A more thorough explanation:

A negotiable order of withdrawal (NOW) is a type of financial instrument that allows the holder to withdraw funds from a bank account on demand. It is similar to a check, but it is issued against funds that have already been deposited with a financial institution.

For example, let's say that John has a NOW account with his bank. He has deposited $1,000 into the account, and he can write a NOW check for up to that amount. If he writes a check for $500 and gives it to his landlord, the landlord can take the check to the bank and cash it immediately. The bank will then deduct $500 from John's account.

Another example is if Sarah has a NOW account with her credit union. She has deposited $2,000 into the account, and she can write a NOW check for up to that amount. If she writes a check for $1,000 and gives it to her contractor, the contractor can take the check to the credit union and cash it immediately. The credit union will then deduct $1,000 from Sarah's account.

These examples illustrate how a negotiable order of withdrawal works. The holder of the NOW account can write a check for a certain amount, and the recipient can cash it immediately. The funds are deducted from the account, and the holder can continue to use the remaining balance as needed.

negotiable note | negotiable-order-of-withdrawal account

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NosyBeagle
16:18
lmaooo
eggan
16:19
you atted windy lol you probably meant to at me but thats ok
Also also, at the same time, the biglaw lawyers increasingly are going "fuck these t30 hires are really good (the non accommodated 160s who would be t14 people in 2008 over these accommodated 170s in the t14 lmfao)" lolololol Also for RC just the more you do the better you are.
AngryMiniCar
16:20
@eggan: thanks! I'll do that.
16:20
Sometimes my mind just goes blank when staring at an RC passage
16:21
what helped me most for RC was that the right answer will always be in the passage, even if its only implied
16:21
so you just have to justify your answer choice with specific line support
NosyBeagle
16:21
maybe i forgot who i was talking to. you can't scroll after a bit lol
@PremiumFrequentCrane: i dont have accomodations you absolute buffoon
NosyBeagle
16:22
trying to see if i have it in me to do another lr set
NosyBeagle
16:23
the best i've done on lr has been -10. I have a long way to go
@NosyBeagle: you need to be drilling weak question types and not doing full sets if you're at -10
NosyBeagle
16:25
@windyMagician: i would send the salute emoji if this website supported them
NosyBeagle
16:25
will start doing this
here u go: 🫡
AngryMiniCar
16:26
^^ I will say wrong answer journal helped me a loooooottt. I would put a small note on the bottom of every reviewed question about a concept/ idea that I learned from my mistake and review it every once in a while. I came from -11
NosyBeagle
16:28
🫡
AngryMiniCar
16:28
I think my issue with RC is that for LR if I misread that's one question. But if I misread the tone of an RC passage I'm screwed for a bunch of questions.
do you have a particularly hard time with one kind of passage, or is it more of an overall problem?
First, RC is something you been doing since grade 1, so unlike LR or LG, it is something you have been exposed to and you will have a natural affinity for it that will be hard to move beyond. Second, you need to just do more of them lol Know all the rules and question types etc. from a curriculum, one of the tried and true like PS or 7sage or what not, then you just drill. Of course that also means you need to review your answers in depth - you need to find where in your thought process you made an error so it doesnt happen again. It also helps to solidify right thought pathways. And not about content like "oh yeah i guess the blacks in 1870s latino communities were creole," but like "oh yes question asks for y and i said z so in the answer i mistook x for w being the right answer" lol aka structural approach. That is all i gots for free lol hire a tutor if you need more.
For LR, look at it as mathematical word problems with algebra.
AngryMiniCar
16:32
Thanks @premiumfrequentcrane. Windy I think (oddly enough) I'm having the most trouble with liberal arts/arts based passages. So anything about the arts/ a writer or author/ music I mess up on even if the passage is super easy.
Usually happens when you apply too much opinion to the passage lol that is also why i said 0 to -2 is RC mastery as opposed to -0 as sometimes you may think that author's pov in the opera comparative passages is "facetious" and they were looking for "apathetic"
AngryMiniCar
16:36
That's likely true.
Remember, all people who go to law school having to do LSAT prep is also about social engineering lol Like you should have some shared basis in how you think/talkk, hence "lawyer talk," but how do they choose which ones to release for everyone to do, from a content perspective? Is it a coincidence we get many climate change content questions? LOL So what i am getting at is that is sometimes VERY subjective lol So dont beat yourself up TOO bad on arts in RC, but obvs work on it.
How many t-14s are appropriate to apply to if i have a 170 lsat
this is for next cycle
everyone saying medians are gonna be crazy so idk what i should be aiming for. 3.9+ gpa if it matters
r/lsa makes me feel like im stupid for having a 170 lol
@RasheedWallaceFan: your gpa is above all medians, so apply broadly
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