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LSDefine

Simple English definitions for legal terms

mercantile paper

Read a random definition: noncompetition agreement

A quick definition of mercantile paper:

Mercantile paper, also known as commercial paper, refers to written or printed documents that represent a debt and can be bought and sold. These documents can include checks, certificates of deposit, and promissory notes. They are often used by companies to meet their immediate cash needs. Some types of mercantile paper are negotiable, meaning they can be transferred to another person who then becomes the owner of the debt.

A more thorough explanation:

Mercantile paper is a type of commercial paper that refers to any written or printed document or instrument that represents a debt. It includes commercial documents or negotiable instruments that are used in business transactions. These instruments are considered negotiable because they can be transferred from one person to another, and the transferee acquires the rights to the debt.

Examples of mercantile paper include:

  • Checks
  • Promissory notes
  • Certificates of deposit
  • Bills of exchange

These instruments are used in business transactions to facilitate the exchange of goods and services. For example, a company may issue a check to pay for goods or services received from another company. The check can be transferred to a third party, who can then deposit it into their own account.

Mercantile paper is governed by Article 3 of the Uniform Commercial Code (UCC), which sets out the rules for negotiable instruments. The UCC defines commercial paper as any instrument, other than cash, that is used to pay a debt. However, the term has been in use for much longer and is commonly used in business and legal contexts.

Mercantile Law Amendment Acts | mercative

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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
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