Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

letter of exchange

Read a random definition: advance parole

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.