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Simple English definitions for legal terms

subsurety

Read a random definition: individual retirement account

A quick definition of subsurety:

Term: SUBSURETY

Definition: A subsurety is someone who agrees to pay back money or take responsibility for something if the original person who promised to do so cannot fulfill their obligation. It's like a backup plan for when things don't go as planned.

A more thorough explanation:

Definition: Subsurety is a person or company that provides a guarantee to pay back a debt if the primary surety is unable to do so.

For example, if a contractor needs to be bonded for a construction project, they may need to provide a surety bond. The surety company may require a subsurety to also provide a guarantee in case the contractor defaults on the bond.

Another example is in the case of a lease agreement. The landlord may require a surety bond from the tenant, and the surety company may require a subsurety to provide an additional guarantee.

These examples illustrate how a subsurety acts as a backup to the primary surety, providing an additional layer of protection for the party requiring the guarantee.

sub suo periculo | subsuretyship

General

General chat about the legal profession.

General >T14 Off Topic

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AngryMiniCar

13:05

And I have to actually do work

badhorrormovie

13:15

LOWKEY.......

badhorrormovie

13:16

updates to follow y'all

badhorrormovie

13:16

NOOOOOOOOOOO

badhorrormovie

13:16

i hope u can get a banhmi tomorrow...

AngryMiniCar

13:23

NEVERMIND BANH MI TODAY WITH BOSS LOL

AngryMiniCar

13:23

He said you wanna order something and I was like HECK YES

Bettercaulsaul

13:29

When an application states “complete” in the status tracker. Does this mean it’s still in review or a decision has been made?

Jordan-D

13:30

Complete just means they marked that you have all the required parts of application submitted. They will send it for review shortly after.

Bettercaulsaul

13:31

Thank you very much!

badhorrormovie

13:37

@AngryMiniCar: AMEN

badhorrormovie

13:38

@Bettercaulsaul: where'd ya apply? :)

NosyBeagle

13:39

im on lunch rn but i keep accidently clicking into my tab where im doing drills and get flash banged

esoterica

13:43

little baby llama what is yr favorite color?

Bettercaulsaul

13:44

@badhorrormovie: few schools I'm waiting on! Loyola, NIU, U OF I, UIC, Cooley, & St. Thomas

Bettercaulsaul

13:45

I don’t want to move for school but at this point I feel it’s up to the admissions gods to make that decision

llama

13:50

@esoterica: Whever colour ur eyes are because when I peer into them, I see our future <3

llama

13:50

@NosyBeagle: I can tell ur destined for LSAT g8ness. ur a grinder and that will help.

llama

13:51

@Bettercaulsaul: it aint fo eva soldier! Embrace the unknown.

AngryMiniCar

13:52

@NosyBeagle: what do you use to drill?

NosyBeagle

13:52

@llama: but at what cost, my dear llama... but at what cost

NosyBeagle

13:52

@AngryMiniCar: kaplan

llama

13:56

@NosyBeagle: practice until the LSAT is your lifeblood, allow it to rewrite your mind, allow it to take you places you never thought possible. TRUST

NosyBeagle

13:59

this sounds culty and im here for it

Bettercaulsaul

14:06

Yall are the best thank you

NosyBeagle

14:33

yep assumptions suck butt

NosyBeagle

14:33

gonna keep at it

llama

14:36

GOOD ON YOU. You have already invested so much time, why stop short of your goal! Eat the elephant one bite at a time :)

NosyBeagle

14:38

me with an elephant shaped belly

NosyBeagle

14:38

instructions unclear. assumed that i could eat the whole elephant

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