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LSDefine

Simple English definitions for legal terms

letter of exchange

Read a random definition: Section 15 declaration

A quick definition of letter of exchange:

A letter of exchange is a written order that tells someone to pay a certain amount of money to another person or to a group of people. It's like a check, but it can be used in different countries. There are different types of letters of exchange, like a demand draft that needs to be paid right away, or a time draft that can be paid later. Sometimes, a letter of exchange is used to pay for things that are being shipped, and it's called a documentary draft. In some countries, people are required to join the military, and this is called a draft. To draft something also means to write or create it, or to choose someone for a job or position.

A more thorough explanation:

A letter 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, on demand or at a specific time. It is also known as a bill of exchange or draft.

For example, if a company in the United States sells goods to a company in Japan, the seller may use a letter of exchange to request payment from the buyer. The seller would be the drawer, the buyer would be the drawee, and the seller's bank or the seller themselves would be the payee.

There are different types of drafts, such as:

Overall, a letter of exchange is a legal document used in international trade to ensure payment for goods or services.

letter of credence | letter of intent

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
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20:50
yo splitterus are you in school already
20:50
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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
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22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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JumpySubsequentDolphin
22:39
@splitty Oregon!
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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