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Simple English definitions for legal terms

commercial set

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A quick definition of commercial set:

A commercial set is a group of important papers that are needed when goods are shipped from one place to another. These papers usually include an invoice, a bill of lading, a bill of exchange, and a certificate of insurance. They are also required when a letter of credit is used.

A more thorough explanation:

A commercial set refers to a group of important documents that are needed when goods are being shipped from one place to another. These documents usually include:

  • An invoice: This is a document that shows the details of the goods being shipped, such as the quantity, price, and total cost.
  • A bill of lading: This is a document that shows that the goods have been loaded onto a ship or other form of transportation.
  • A bill of exchange: This is a document that shows that the buyer has agreed to pay for the goods at a later date.
  • A certificate of insurance: This is a document that shows that the goods are insured in case they are lost or damaged during shipment.

These documents are very important because they help to ensure that the goods are shipped and paid for correctly. For example, if the buyer doesn't pay for the goods, the seller can use the bill of exchange to force them to pay. If the goods are lost or damaged during shipment, the certificate of insurance can be used to make a claim and get compensation.

Another example of a commercial set is the documents required under a letter of credit. A letter of credit is a document that guarantees payment to the seller as long as they meet certain conditions, such as providing the correct documents. The documents required under a letter of credit are usually the same as those in a commercial set.

commercial partnership | commercial signature

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19:12
My crypto also flows in 5 day epochs too.
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what do you do with your days as an unemployed crypto guy? do you play an instrument or something
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please lawd
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forgive me
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its time to go back to tha old me
19:50
this is what i feel like when i get one single drill question right
19:50
when u get one wrong ;(
therapist slander detected
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20:37
Anyone got any polymarket locks
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20:37
Is anyone in here cool like fr cool
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20:37
Like watch college football cool
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20:37
Or like
1a2b3c4d26z
20:38
Frat
1a2b3c4d26z
20:39
Sorry guys I'm bored trying to get my Berkeley essay to 4 pages
20:40
no way they want four pages that’s crazy
20:41
bitches wanna be different sooo bad 😴
1a2b3c4d26z
20:42
Technically they want 3 to be completely fair to the powers that be, so I'm really trying to push out to 3
1a2b3c4d26z
20:42
But it's 1/2 inch margins
20:44
assuming it was 2 already, you’ve totally got 3 double spaced pages in you
20:45
should I watch the quirky umich dean videos? i feel like all of you have seen them except me but I can’t work up any enthusiasm for the idea
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20:54
I like Dean Z not sure why she gets slandered sometimes
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20:54
I would say yeah, they're helpful. But they can verge on unproductive and stress-inducing if you watch enough of them (especially the application read-through ones)
21:07
okay I’ll check them out
21:40
hey so where do i see my LSAC GPA bc i know they calculate it differently
21:40
sorry new to dis
You can calculate it here
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