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LSDefine

Simple English definitions for legal terms

time draft

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A quick definition of time draft:

A time draft is a written order that tells someone to pay a certain amount of money on a specific date. It's like a check, but with a set due date. There are different types of drafts, like a demand draft that can be paid right away, or a foreign draft that is paid in a different country. Drafts can also be used in the military to enlist people, or in drafting a document or selecting someone for a job.

A more thorough explanation:

Definition: A time draft is a written order signed by one person (the drawer) directing another person (the drawee or payor) to pay a certain sum of money on a specified date to a third person (the payee) or to bearer.

Example: A company in the United States sells goods to a company in Japan and sends a time draft to the Japanese company's bank. The time draft instructs the bank to pay the amount specified on a specific date to the U.S. company or to the bearer of the draft.

This example illustrates how a time draft is used in international trade to ensure payment at a future date.

Other types of drafts:

Note: A check is the most common example of a draft.

time deposit | time immemorial

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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