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Simple English definitions for legal terms

commercial set

Read a random definition: property ratione soli

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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14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
14:43
boooooo
1a2b3c4d26z
14:45
hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
14:47
Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
BulbasaurNoLikeCardio
14:50
Feeling like sad drinking tonight, wife accidentally tossed out my truck keys and those are expensive as fuck to replace. The crappiest part is that the key chain had the "remove before flight" tab from my first aircraft's rocket pods overseas from 6 years ago. Then find out people fucked around and back dated reports at work making me look like a shit bag so I am working later tonight and missing range time which is my weekly relax/me time. Add in my sleep meds stopped working, so I am thinking vodka (so I stay skinny and hot) and pizza by the fireplace kind of friday.
1a2b3c4d26z
14:51
Renard if you're not drinking margs Im gonna throw hands
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