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LSDefine

Simple English definitions for legal terms

payoff

Read a random definition: bearer

A quick definition of payoff:

A payoff is when someone receives a part of the money they earned, but they have to give some of it back to someone else. This can happen because of a secret agreement or when someone is forced to do it. It's like a secret payment that is not fair or honest. Sometimes, people use the word "kickback" instead of "payoff" to mean the same thing.

A more thorough explanation:

Definition: A payoff is a return of a portion of a monetary sum received, often as a result of coercion or a secret agreement.

Example: The contractor paid the city official a 5% payoff on the government contract.

Explanation: In this example, the contractor gave a portion of the money received from the government contract to the city official in exchange for some kind of favor or advantage. This is often illegal and unethical.

Definition: A kickback is a return of a portion of a monetary sum received, especially as a result of coercion or a secret agreement.

Example: The doctor received a kickback from the pharmaceutical company for prescribing their medication to patients.

Explanation: In this example, the doctor received a portion of the money paid by the pharmaceutical company in exchange for prescribing their medication to patients. This is often illegal and unethical.

Definition: A kicker is an extra charge or penalty, especially a charge added to a loan in addition to interest.

Example: The bank charged a kicker of 2% on the loan.

Explanation: In this example, the bank added an extra charge of 2% on top of the interest rate for the loan. This increases the total amount that the borrower has to pay back.

Definition: A kickout clause is a contractual provision allowing a party to end or modify the contract if a specified event occurs.

Example: The contract had a kickout clause that allowed the company to refuse to sell the land if it were unable to complete its acquisition of the new headquarters.

Explanation: In this example, the contract had a provision that allowed the company to back out of the sale of the land if they were unable to complete their acquisition of the new headquarters. This protects the company from being forced to sell the land if they are unable to complete the acquisition.

payment date | payola

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for sure, thank you a lot. Have fun at michigan that will be awesome!
NosyBeagle
17:13
it is 4pm here so it's time for nyt sudoku (I'm not good at sudoku either)
omg i just did the wordle and mini
NosyBeagle
17:14
love nyt games
SAMEEEEE
NosyBeagle
17:14
i do them in between studying to keep sane
@RasheedWallaceFan: take your list and research the city, campus, tuition, bar passage, employment by sector, etc.!!! it might help you narrow down your school choices
also don't pay much attention to the people on reddit. there's genuinely good advice but there's a ton of people who are just energy vampires (average reddit user)
@NosyBeagle: that is so real
me playing a mobile game after a 7sage section
NosyBeagle
17:26
i have or im gonna get the lsat blues
NosyBeagle
17:26
lol
17:30
I already have the LSAT blues... not as much as I am going to have between June 7 and June 25 though :P
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The real reason why lawyers are alchoholics... Because there is so much of a wait time between tests and scores.
NosyBeagle
17:48
i already became one in undergrad so ill fit right in
Are the 7sage app requirements as far as essays go accurate? I would love to spend my summer preparing my applications but I dont want to waste time writing essays that wont be there. Is there a way to know what will be on the apps, or when those apps will be available to view? Or should I just focus on my PS and DS for now?
@RasheedWallaceFan: they were accurate for me, but school requirements change year to year and there's no way for anyone to know for sure
NosyBeagle
18:22
how far can i get if I type "please" on a word doc 500 times
okay sabrina carpenter
NosyBeagle
18:32
lmao
NosyBeagle
18:37
oh yeah my shift is almost over im gonna go to sleep immdiately
@RasheedWallaceFan: refer to school website, of course
@windyMagician: swagjacker
22:27
yall ever wish you were an all powerful dictator
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i think id be a good dictator
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whip this place into shape
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this place is tamer than a petting zoo when all the animals are alseep
Buck-Mah-Futt
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Get lit @llama https://soundcloud.com/torzx/1000a
Buck-Mah-Futt
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The fighting temptation sample is so much better than the original https://www.youtube.com/watch?v=QVX_ZkLbIuk
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