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Simple English definitions for legal terms

cash-against-documents sale

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A quick definition of cash-against-documents sale:

A cash-against-documents sale is when someone buys something and pays for it when they get the documents that prove they own it. This usually happens before the buyer gets the thing they bought. It's like buying a toy and paying for it when you get the receipt that shows you own it.

A more thorough explanation:

Definition: A type of documentary sale where the buyer pays for the goods upon the seller's tender of documents of title covering the goods, plus a sight draft requiring the buyer to pay “at sight.” This type of sale typically occurs before delivery of the goods, which might be en route when the buyer pays.

Example: A company in the United States wants to purchase goods from a supplier in China. The supplier sends the shipping documents, such as the bill of lading and commercial invoice, to the buyer's bank. The buyer's bank releases the documents to the buyer only after the buyer pays for the goods. The buyer then presents the documents to the shipping company to take possession of the goods.

Explanation: In this example, the buyer pays for the goods only after receiving the shipping documents from the seller's bank. The buyer's bank releases the documents to the buyer only after the buyer pays for the goods. This ensures that the seller gets paid before the buyer takes possession of the goods. The buyer then presents the documents to the shipping company to take possession of the goods. This type of sale is common in international trade where the buyer and seller may not know each other well and want to reduce the risk of non-payment or non-delivery.

cash | cash-and-carry clause

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18:25
think it is safe to say it aint happenin today\
damn it was a slow day today
BulbasaurNoLikeCardio
18:26
I got a custom built Leftie ar15 I run suppressed, a regular ar15, a .270 axis savage bolt gun, xd9, xd40 and have my AR10 I run suppressed.
BulbasaurNoLikeCardio
18:26
I do not think we will see a wave until after thanksgiving. Adcoms will be nice and not ruin someones thanksgiving with an R
18:28
ruin my thanksgiving law schools uwu
PerpetualCheerfulBeaver
18:53
I really thought a texas schools wave was going to hit today...guess it will be December 1
7Rings
19:00
No news is good news 😜
PerpetualCheerfulBeaver
19:10
the mentality im embracing
ClassyPleasantHeron
19:23
You will see some A waves next week, just before Thanksgiving. Schools like to give people things to talk about over the holidays.
19:26
my predict monday berk from earlier td
snow
19:33
Oregon decision rendered…
snow
19:33
Bro why don’t they just tell me lol
damn ive been under review for a month and no movement, when did u apply snow?
snow
19:39
The day apps opened. I still don’t know what the decision is tho lol
Dang. Crossing my fingers for you!!
snow
19:41
Thank you!!
shaquilleoatmeal
19:44
Snow dude wtf you been
snow
19:46
Working! I was prepping for a trial but it got reset!
snow
19:47
Have you don your gulc interview?
JumpySubsequentDolphin
19:47
@snow: snow!!!! I’m in Oregon should I break into admissions office and demand your decision be sent
shaquilleoatmeal
19:49
Better to be prepared than not, otherwise it always happens when you don’t prep
shaquilleoatmeal
19:50
Yea did it a week and half ago, told us we won’t hear anything until end of December if we’re lucky, most likely first week of jan
shaquilleoatmeal
19:50
Said no one works after Monday this week and no one works week of Christmas
shaquilleoatmeal
19:50
So holiday takes time away from app review
snow
19:54
True @shaq and do it jumpy!!
20:06
Hi everyone! Decided a bit too late that I wanted to go into law. GPA currently stands at 3.76 (one more semester to go) and I'm interested in going into immigration law. Anybody got any advice for LSAT studying and applications? I plan on taking a gap year to have some time for internships and such :)
snow
20:08
Apply for the LSAT fee waiver to try to mitigate the cost of materials! 7Sage is $1 for a year if you have the fee waiver. I also think you should try to work in an immigration firm in some way to see if it’s something you really want to pursue and to add to your resume. Good luck!!! One tip I would also give is to not sign up for the LSAT until you’re practice tests average are around the score you’re aiming for
snow
20:08
Your*
snow
20:08
You got this! :)
madollyy
20:09
thank you snow <3
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