Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

notation credit

Read a random definition: Saint Lawrence Seaway Development Corporation

A quick definition of notation credit:

Notation credit is a type of letter of credit that requires anyone purchasing or paying a draft or demand for payment made under it to note the amount of the draft or demand on the letter. A letter of credit is an agreement between a bank and a customer, where the bank agrees to honor a draft or other demand for payment made by a third party (the beneficiary), as long as the draft or demand complies with specified conditions. There are different types of letters of credit, such as commercial, standby, and documentary, each with its own specific requirements and purposes.

A more thorough explanation:

A notation credit is a type of letter of credit that requires anyone purchasing or paying a draft or demand for payment made under it to note the amount of the draft or demand on the letter. This type of credit is often used in commercial transactions.

For example, if a company purchases goods from a supplier using a notation credit, the supplier must note the amount of the payment on the letter of credit when they receive it. This ensures that the payment is properly recorded and accounted for.

Overall, notation credits are a useful tool for ensuring that payments are properly documented and tracked in commercial transactions.

notary seal | note broker

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
does anyone ever think about how we have no idea who everyone else here is? like you guys dont know me at all thats so crazy cause i talked to you more than ppl irl today
i'm a hallucination
the hat man
HopefullyInLawSchool
16:03
isnt r&r a t50?
keep popping benadryls and ill stay online
law school chat roulette
[] baddestbunny
16:04
living out the plot of the movie unfriended in the yale invite-only webinar
You were only invited to round out the numbers anyway lol
Dkk
16:05
I'm too old to r&r, just gunna kms rn.
Dkk
16:05
Gotta get this show on the road.
Dkk
16:05
Lmfao
JumpySubsequentDolphin
16:05
washu stop emailing me while I’m waiting for a decision challenge
[] baddestbunny
16:05
I'm not in their webinar I just thought it would be a funny thing to have happen
[] baddestbunny
16:05
bc I have a sense of whimsy and imagination
Ah, youre a worm gorl'
shaquilleoatmeal
16:07
battle of the bunnies
How bout dat ASU wave
letsseehowitgoesnow
16:08
bunny hows it looking out there?
[] baddestbunny
16:08
I just think it's weird when a make a joke about everyone in the yale webinar being tortured by a malevolent spirit and someone says you only got invited to round out the numbers
why
go off queen
[] baddestbunny
16:09
which number am I rounding out? 5'4 women who deserve to be tortured?
someone invited to the yale webinar would get it
[] baddestbunny
16:10
if you don't get invited to the yale webinar canada sends you an email letting u know you qualify for MAID
what's that
Send MA ID
BulbasaurNoLikeCardio
16:16
LawHub blocking me from status checker, guess I ain't going to law school now
"Go touch grass" - Lawhub
BulbasaurNoLikeCardio
16:17
Pretty much lol
BulbasaurNoLikeCardio
16:18
Even though its only second check of the day
LSD+ is ad-free, with DMs, discounts, case briefs & more.