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Simple English definitions for legal terms

international bill of exchange

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A quick definition of international bill of exchange:

An international bill of exchange is a written order that one person gives to another person to pay a certain amount of money to a third person. It's like a check, but it can be used in different countries. There are different types of drafts, like a clean draft with no shipping documents, or a demand draft that is payable on demand. Sometimes, people are forced to join the military through a draft. To draft also means to write or compose something, or to recruit someone for a task.

A more thorough explanation:

An international bill of exchange is a written order signed by one person, called the drawer, directing another person, called the drawee or payor, to pay a certain amount of money to a third person, called the payee or bearer. It is a type of foreign draft that is payable in another country or state.

For example, if a company in the United States sells goods to a company in Japan, the seller can use an international bill of exchange to receive payment from the buyer. The seller would write the order, and the buyer's bank would pay the amount to the seller's bank or the seller directly.

Other types of drafts include:

  • Clean draft: A draft with no shipping documents attached.
  • Demand draft: A draft that is payable on the bearer's demand or on proper presentment to the drawer.
  • Documentary draft: A payment demand conditioned on the presentation of a document, such as a document of title, invoice, certificate, or notice of default.
  • Export draft: A draft drawn by a domestic seller on a foreign buyer, directing the buyer to pay the trade amount to the seller or the seller's bank.
  • Inland draft: A draft drawn and payable in the same state or country.
  • Time draft: A draft that contains a specified payment date.
  • Trade draft: A draft that instructs a commercial enterprise or its agent to pay the amount specified.

Overall, a bill of exchange is a useful tool for international trade and commerce, allowing for secure and efficient payment transactions between parties in different countries.

International Bank for Reconstruction and Development | International Bureau for the Protection of Intellectual Property

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no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
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