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LSDefine

Simple English definitions for legal terms

commercial set

Read a random definition: quoad valet seipsum

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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