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Simple English definitions for legal terms
Read a random definition: beneficiary deed
Definition: Effets are bills of exchange or goods that can be exchanged for money. They can also refer to funds or stocks.
Example: When a company sells its products, it receives payment in the form of effets, such as bills of exchange or stocks.
This definition explains that effets are a type of financial instrument or goods that can be exchanged for money. The example illustrates how a company can receive payment in the form of effets when it sells its products.