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Law school is a lot like juggling. With chainsaws. While on a unicycle.
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Legal Definitions - conventional interest
Success in law school is 10% intelligence and 90% persistence.
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Definition of conventional interest
Conventional interest is a type of interest that is agreed upon by both parties in a financial transaction. It refers to the amount of money that a borrower agrees to pay a lender in exchange for borrowing money.
For example, if you take out a loan from a bank, you will have to pay back the amount you borrowed plus interest. The interest rate is agreed upon by both you and the bank, and it is usually expressed as a percentage of the amount borrowed.
Another example of conventional interest is the interest you earn on a savings account. When you deposit money into a savings account, the bank pays you interest on that money. The interest rate is agreed upon by both you and the bank, and it is usually expressed as a percentage of the amount deposited.
Overall, conventional interest is a common aspect of financial transactions and is used to compensate lenders for the use of their money.
A good lawyer knows the law; a great lawyer knows the judge.
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Simple Definition
Conventional interest is when someone earns money by lending it to someone else. It's like when you give your friend some money and they promise to pay you back with a little extra. That extra money is the interest. Interest can also mean having a legal right to something, like a piece of property or money. There are different types of interests, like a direct interest which is a definite right, or a contingent interest which you can only get if something else happens first.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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