|
 |
||
 |
| This dictionary contains: 8526 juridical terms |
 |
Letter of credit
|
|
Letter of creditContracts. An open or sealed letter, from a merchant in one place, directed to another, in another place or country, requiring him that if a person therein named, or the bearer of the letter, shall have occasion to buy commodities, or to want money to any particular or unlimited amount, either to procure the same, or to pass his promise, bill, or other engagement for it, the writer of the letter undertaking to provide him the money for the goods, or to repay him by exchange, or to give him such satisfaction as he shall require, either for himself or the bearer of the letter.
RELATED TERMS--------------------------------------
Letter
1) Common law, criminal law. An epistle; a despatch; a written message, usually on paper, which is folded up and sealed, sent by one person to another. 2) Contracts. In the civil law, locator, and in the French law, locateur, loueur, or bailleur, is he who, being the owner of a thing, lets it out to another for hire or compensation. 3) Civil law. The answer which the prince gave to questions of law which had been submitted to him by magistrates, was called letters or epistles. 4) Missive, English law. After a bill has been filed against a peer or peeress, or lord of parliament, a petition is presented to the lord chancellor for his letter, called a letter missive, which requests the defendant to appear and answer to the bill. A neglect to attend to this, places the defendant, in relation to such suit, on the same ground as other defendants, who are not peers, and a subpoena may then issue.
Merchant
One whose business it is to buy and sell merchandise; this applies to all persons who habitually trade in merchandise.
Place
Pleading, evidence. A particular portion of space; locality.
Country
By country is meant the state of which one is a member.
Person
This word is applied to men, women and children, who are called natural persons.
Bearer
One who bears or carries a thing.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Pass
1) In the slave states this word signifies a certificate given by the master or mistress to a slave, in which it is stated that he is permitted to leave his home, with the authority of his master or mistress. The paper on which-such certificate is written is also called a pass. 2) practice. To be given, or entered; to proceed; as, let the judgment pass for the plaintiff.
Promise
Contracts. An engagement by which the promisor contracts towards another to perform or do something to the advantage of the latter.
Bill
1) Legislation. An instrument drawn or presented by a member or committee to a legislative body for its approbation and enactment. After it has gone through both houses and received the constitutional sanction of the chief magistrate, where such approbation is requisite, it becomes a law. 2) Merchant law. An account containing the items of goods sold, or of work done by one person against another. 3) Contracts. A bill or obligation, is a deed whereby the obligor acknowledges himself to owe unto the obligee a certain sum of money or some other thing, in which, besides the names of the parties, are to be considered the sum or thing due, the time, place, and manner of payment or delivery thereof. It may be indented, or poll, and with or without a penalty.
Engagement
This word is frequently used in the French law to signify not only a contract, but the obligations arising from a quasi contract.
Undertaking
Contracts. An engagement by one of the parties to a contract to the other, and not the mutual engagement of the parties to each other; a promise.
Satisfaction
1) Practice. An entry made on the record, by which a party in whose favor a judgment was rendered, declares that he has been satisfied and paid. 2) Construction by courts of equity. Satisfaction is defined to be the donation of a thing, with the intention, express or implied, that such donation is to be an extinguishment of some existing right or claim in the donee.
SIMILAR TERMS--------------------------------------
Letter
1) Common law, criminal law. An epistle; a despatch; a written message, usually on paper, which is folded up and sealed, sent by one person to another. 2) Contracts. In the civil law, locator, and in the French law, locateur, loueur, or bailleur, is he who, being the owner of a thing, lets it out to another for hire or compensation. 3) Civil law. The answer which the prince gave to questions of law which had been submitted to him by magistrates, was called letters or epistles. 4) Missive, English law. After a bill has been filed against a peer or peeress, or lord of parliament, a petition is presented to the lord chancellor for his letter, called a letter missive, which requests the defendant to appear and answer to the bill. A neglect to attend to this, places the defendant, in relation to such suit, on the same ground as other defendants, who are not peers, and a subpoena may then issue.
Letter book
Commerce. A book containing the copies of letters written by a merchant or trader to his correspondents.
Letter carrier.
A person employed to carry letters from the post office to the persons to whom they are addressed.
Letter of advice
Common law. A letter containing information of any circumstances unknown to the person to whom it is written; generally informing him of some act done by the writer of the letter.
Letter of attorney
Practice. A written instrument under seal, by which one or more persons, called the constituents, authorize one or more other persons called the attorneys, to do some lawful act by the latter, for or instead, and in the place of the former.
Letter of credence
International law. A written instrument addressed by the sovereign or chief magistrate of a state, to the sovereign or state to whom a public minister is sent, certifying his appointment as such, and the general objects of his mission, and requesting that full faith and credit may be given to what he shall do and say ou the part of his court.
Letter of guarantee
A written undertaking, or letter of indemnity, usually provided by a bank, promising to hold the carrier (supra) harmless, up to a certain sum, for claims that may arise from the delivery of goods to a particular person who is unable to surrender the original bills of lading in return for the goods.
Letter of indemnity
A written undertaking by a shipper to indemnify a carrier for any liability which the carrier may incur for having issued a clean bill of lading (supra) when, in fact, the goods received were not as stated on the bill of lading (supra). Such a letter is usually a central document in a fraud, whereby the shipper and carrier knowingly misrepresent to third parties the actual order and condition of the goods at the time of shipment or the bad order of the packing, or whereby they issue duplicate bills of lading to replace lost or stolen originals. Letters of indemnity should not be condoned by courts and are generally held ineffective as against third parties.
Letter of license
Contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.
Letter of marque and reprisal
War. A commission granted by the government to a private individual, to take the property of a foreign state, or of the citizens or subjects of such state, as a reparation for an injury committed by such state, its citizens or subjects. A vessel loaded with merchandise, on a voyage to a friendly port, but armed for its own defence in case of attack by an enemy, is also called a letter of marque.
Letter of recall
A written document addressed by the executive of one government to the executive of another, informing the latter that a minister sent by the former to him, has been recalled.
Letter of recommendation
Common law. An instrument given by one person to another, addressed to a third, in which the bearer is represented as worthy of credit.
Letter of recredentials
A document delivered to a minister, by the secretary of state of the government to which he was accredited. It is addressed to the executive of the minister's country. This is in reply to the letter of recall.
Letter of undertaking
A written undertaking provided by a club to secure the release of a ship belonging to one of the Club's shipowning members from arrest or attachment, or to prevent such arrest or attachment. The letter provides the seizing creditor with a guarantee that his claim will be satisfied up to the amount specified by the letter. It also usually replaces the ship as security and contains a submission to the jurisdiction of the competent court or , as well as an undertaking to accept service on behalf of the shipowners in personam besides in the name of the ship.
Letters ad colligendum bona de functi
Practice. In default of the representatives and creditors to administer to the estate of an intestate, the officer entitled to grant letters of administration, may grant to such person as he approves, letters to collect the goods of the deceased, which neither make him executor nor administrator; his only busness being to collect the goods and keep them in his safe custody.
Letters close
English law. Close letters are grants, of the king, and being of private concern, they are thus distinguished from letters patent.
Letters of administration
Legal document issued by a court that shows an administrator's legal right to take control of assets in the deceased person's name.
Letters of request
English ecclesiastical law. An instrument by which a judge of an inferior court waives or remits his own jurisdiction in favor of a court of appeal immediately superior to it.
Letters patent
The name of an instrument granted by the government to convey a right to the patentee; as, a patent for a tract of land; or to secure to him a right which he already possesses, as a patent for a new invention or discovery; Letters patent are a matter of record. They are so called because they are not sealed up, but are granted open.
Letters rogatory
A letter rogatory is an instrument sent in the name and by the authority of a judge or court to another, requesting the latter to cause to be examined, upon interrogatories filed in a cause depending before the former, a witness who is within the jurisdiction of the judge or court to whom such letters are addressed. In letters rogatory there is always an offer on the part of tbe court whence they issued, to render a similar service to the court to which they may be directed whenever required.
Letters testamentary
Legal document issued by a court that shows an executor's legal right to take control of assets in the deceased person's name.
Letters testamentary, and of administration
This is an instrument in writing, granted by the judge or officer having jurisdiction of the probate of wills, under his hand and official seal, making known that on the day of the date of the said letters, the last will of the testator, (naming him,) was duly proved before him; that the testator left goods, by reason, whereof, and the probate of the said will, he certifies "that administration of all and singular, the goods, chattels, rights and credits of the said deceased, any way concerning his last will and testament, was committed to the executor, (naming him,) in the said testament named." Letters of administration may be described to be an instrument in writing, granted by the judge or officer having jurisdiction and power of granting such letters, thereby giving the administrator, (naming him,)," full power to administer the goods, chattels, rights and credits, which were of the said deceased, in the county or, district in which the said judge or officer has jurisdiction; as also to ask, collect, levy, recover and receive the credits whatsoever, of the said deceased, which at the time of his death were owing, or did in any way belong to him, and to pay the debts in which the said deceased stood obliged, so far forth as the said goods and chattels, rights and credits will extend, according, to the rate and order of law." Letters of administration pendente lite, are letters granted during the pendency of a suit in relation to a paper purporting to be the last will and testament of the deceased. Letters of administration de bonis non, are granted, where the former executor or administrator did not administer all the personal estate of the deceased, and where he is dead or has been discharged or dismissed. Letters of administration, durante minori aetate, are granted where the testator, by his will, appoints an infaut executor, who is incapable of acting on account of his infancy. Such letters remain in force until the infant arrives at an age to take upon himself the execution of the will.
Lettuce (prison)
In the US penitentiary slang, prisoners who go out to gang rape.
PREVIOUS AND NEXT TERMS--------------------------------------
Letter book
Commerce. A book containing the copies of letters written by a merchant or trader to his correspondents.
Letter carrier.
A person employed to carry letters from the post office to the persons to whom they are addressed.
Letter of advice
Common law. A letter containing information of any circumstances unknown to the person to whom it is written; generally informing him of some act done by the writer of the letter.
Letter of attorney
Practice. A written instrument under seal, by which one or more persons, called the constituents, authorize one or more other persons called the attorneys, to do some lawful act by the latter, for or instead, and in the place of the former.
Letter of credence
International law. A written instrument addressed by the sovereign or chief magistrate of a state, to the sovereign or state to whom a public minister is sent, certifying his appointment as such, and the general objects of his mission, and requesting that full faith and credit may be given to what he shall do and say ou the part of his court.
Letter of credit
Letter of guarantee
A written undertaking, or letter of indemnity, usually provided by a bank, promising to hold the carrier (supra) harmless, up to a certain sum, for claims that may arise from the delivery of goods to a particular person who is unable to surrender the original bills of lading in return for the goods.
Letter of indemnity
A written undertaking by a shipper to indemnify a carrier for any liability which the carrier may incur for having issued a clean bill of lading (supra) when, in fact, the goods received were not as stated on the bill of lading (supra). Such a letter is usually a central document in a fraud, whereby the shipper and carrier knowingly misrepresent to third parties the actual order and condition of the goods at the time of shipment or the bad order of the packing, or whereby they issue duplicate bills of lading to replace lost or stolen originals. Letters of indemnity should not be condoned by courts and are generally held ineffective as against third parties.
Letter of license
Contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.
Letter of marque and reprisal
War. A commission granted by the government to a private individual, to take the property of a foreign state, or of the citizens or subjects of such state, as a reparation for an injury committed by such state, its citizens or subjects. A vessel loaded with merchandise, on a voyage to a friendly port, but armed for its own defence in case of attack by an enemy, is also called a letter of marque.
Letter of recall
A written document addressed by the executive of one government to the executive of another, informing the latter that a minister sent by the former to him, has been recalled.
RELATED TERMS--------------------------------------
Letter
1) Common law, criminal law. An epistle; a despatch; a written message, usually on paper, which is folded up and sealed, sent by one person to another. 2) Contracts. In the civil law, locator, and in the French law, locateur, loueur, or bailleur, is he who, being the owner of a thing, lets it out to another for hire or compensation. 3) Civil law. The answer which the prince gave to questions of law which had been submitted to him by magistrates, was called letters or epistles. 4) Missive, English law. After a bill has been filed against a peer or peeress, or lord of parliament, a petition is presented to the lord chancellor for his letter, called a letter missive, which requests the defendant to appear and answer to the bill. A neglect to attend to this, places the defendant, in relation to such suit, on the same ground as other defendants, who are not peers, and a subpoena may then issue.
Merchant
One whose business it is to buy and sell merchandise; this applies to all persons who habitually trade in merchandise.
Place
Pleading, evidence. A particular portion of space; locality.
Country
By country is meant the state of which one is a member.
Person
This word is applied to men, women and children, who are called natural persons.
Bearer
One who bears or carries a thing.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Pass
1) In the slave states this word signifies a certificate given by the master or mistress to a slave, in which it is stated that he is permitted to leave his home, with the authority of his master or mistress. The paper on which-such certificate is written is also called a pass. 2) practice. To be given, or entered; to proceed; as, let the judgment pass for the plaintiff.
Promise
Contracts. An engagement by which the promisor contracts towards another to perform or do something to the advantage of the latter.
Bill
1) Legislation. An instrument drawn or presented by a member or committee to a legislative body for its approbation and enactment. After it has gone through both houses and received the constitutional sanction of the chief magistrate, where such approbation is requisite, it becomes a law. 2) Merchant law. An account containing the items of goods sold, or of work done by one person against another. 3) Contracts. A bill or obligation, is a deed whereby the obligor acknowledges himself to owe unto the obligee a certain sum of money or some other thing, in which, besides the names of the parties, are to be considered the sum or thing due, the time, place, and manner of payment or delivery thereof. It may be indented, or poll, and with or without a penalty.
Engagement
This word is frequently used in the French law to signify not only a contract, but the obligations arising from a quasi contract.
Undertaking
Contracts. An engagement by one of the parties to a contract to the other, and not the mutual engagement of the parties to each other; a promise.
Satisfaction
1) Practice. An entry made on the record, by which a party in whose favor a judgment was rendered, declares that he has been satisfied and paid. 2) Construction by courts of equity. Satisfaction is defined to be the donation of a thing, with the intention, express or implied, that such donation is to be an extinguishment of some existing right or claim in the donee.
SIMILAR TERMS--------------------------------------
Letter
1) Common law, criminal law. An epistle; a despatch; a written message, usually on paper, which is folded up and sealed, sent by one person to another. 2) Contracts. In the civil law, locator, and in the French law, locateur, loueur, or bailleur, is he who, being the owner of a thing, lets it out to another for hire or compensation. 3) Civil law. The answer which the prince gave to questions of law which had been submitted to him by magistrates, was called letters or epistles. 4) Missive, English law. After a bill has been filed against a peer or peeress, or lord of parliament, a petition is presented to the lord chancellor for his letter, called a letter missive, which requests the defendant to appear and answer to the bill. A neglect to attend to this, places the defendant, in relation to such suit, on the same ground as other defendants, who are not peers, and a subpoena may then issue.
Letter book
Commerce. A book containing the copies of letters written by a merchant or trader to his correspondents.
Letter carrier.
A person employed to carry letters from the post office to the persons to whom they are addressed.
Letter of advice
Common law. A letter containing information of any circumstances unknown to the person to whom it is written; generally informing him of some act done by the writer of the letter.
Letter of attorney
Practice. A written instrument under seal, by which one or more persons, called the constituents, authorize one or more other persons called the attorneys, to do some lawful act by the latter, for or instead, and in the place of the former.
Letter of credence
International law. A written instrument addressed by the sovereign or chief magistrate of a state, to the sovereign or state to whom a public minister is sent, certifying his appointment as such, and the general objects of his mission, and requesting that full faith and credit may be given to what he shall do and say ou the part of his court.
Letter of guarantee
A written undertaking, or letter of indemnity, usually provided by a bank, promising to hold the carrier (supra) harmless, up to a certain sum, for claims that may arise from the delivery of goods to a particular person who is unable to surrender the original bills of lading in return for the goods.
Letter of indemnity
A written undertaking by a shipper to indemnify a carrier for any liability which the carrier may incur for having issued a clean bill of lading (supra) when, in fact, the goods received were not as stated on the bill of lading (supra). Such a letter is usually a central document in a fraud, whereby the shipper and carrier knowingly misrepresent to third parties the actual order and condition of the goods at the time of shipment or the bad order of the packing, or whereby they issue duplicate bills of lading to replace lost or stolen originals. Letters of indemnity should not be condoned by courts and are generally held ineffective as against third parties.
Letter of license
Contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.
Letter of marque and reprisal
War. A commission granted by the government to a private individual, to take the property of a foreign state, or of the citizens or subjects of such state, as a reparation for an injury committed by such state, its citizens or subjects. A vessel loaded with merchandise, on a voyage to a friendly port, but armed for its own defence in case of attack by an enemy, is also called a letter of marque.
Letter of recall
A written document addressed by the executive of one government to the executive of another, informing the latter that a minister sent by the former to him, has been recalled.
Letter of recommendation
Common law. An instrument given by one person to another, addressed to a third, in which the bearer is represented as worthy of credit.
Letter of recredentials
A document delivered to a minister, by the secretary of state of the government to which he was accredited. It is addressed to the executive of the minister's country. This is in reply to the letter of recall.
Letter of undertaking
A written undertaking provided by a club to secure the release of a ship belonging to one of the Club's shipowning members from arrest or attachment, or to prevent such arrest or attachment. The letter provides the seizing creditor with a guarantee that his claim will be satisfied up to the amount specified by the letter. It also usually replaces the ship as security and contains a submission to the jurisdiction of the competent court or , as well as an undertaking to accept service on behalf of the shipowners in personam besides in the name of the ship.
Letters ad colligendum bona de functi
Practice. In default of the representatives and creditors to administer to the estate of an intestate, the officer entitled to grant letters of administration, may grant to such person as he approves, letters to collect the goods of the deceased, which neither make him executor nor administrator; his only busness being to collect the goods and keep them in his safe custody.
Letters close
English law. Close letters are grants, of the king, and being of private concern, they are thus distinguished from letters patent.
Letters of administration
Legal document issued by a court that shows an administrator's legal right to take control of assets in the deceased person's name.
Letters of request
English ecclesiastical law. An instrument by which a judge of an inferior court waives or remits his own jurisdiction in favor of a court of appeal immediately superior to it.
Letters patent
The name of an instrument granted by the government to convey a right to the patentee; as, a patent for a tract of land; or to secure to him a right which he already possesses, as a patent for a new invention or discovery; Letters patent are a matter of record. They are so called because they are not sealed up, but are granted open.
Letters rogatory
A letter rogatory is an instrument sent in the name and by the authority of a judge or court to another, requesting the latter to cause to be examined, upon interrogatories filed in a cause depending before the former, a witness who is within the jurisdiction of the judge or court to whom such letters are addressed. In letters rogatory there is always an offer on the part of tbe court whence they issued, to render a similar service to the court to which they may be directed whenever required.
Letters testamentary
Legal document issued by a court that shows an executor's legal right to take control of assets in the deceased person's name.
Letters testamentary, and of administration
This is an instrument in writing, granted by the judge or officer having jurisdiction of the probate of wills, under his hand and official seal, making known that on the day of the date of the said letters, the last will of the testator, (naming him,) was duly proved before him; that the testator left goods, by reason, whereof, and the probate of the said will, he certifies "that administration of all and singular, the goods, chattels, rights and credits of the said deceased, any way concerning his last will and testament, was committed to the executor, (naming him,) in the said testament named." Letters of administration may be described to be an instrument in writing, granted by the judge or officer having jurisdiction and power of granting such letters, thereby giving the administrator, (naming him,)," full power to administer the goods, chattels, rights and credits, which were of the said deceased, in the county or, district in which the said judge or officer has jurisdiction; as also to ask, collect, levy, recover and receive the credits whatsoever, of the said deceased, which at the time of his death were owing, or did in any way belong to him, and to pay the debts in which the said deceased stood obliged, so far forth as the said goods and chattels, rights and credits will extend, according, to the rate and order of law." Letters of administration pendente lite, are letters granted during the pendency of a suit in relation to a paper purporting to be the last will and testament of the deceased. Letters of administration de bonis non, are granted, where the former executor or administrator did not administer all the personal estate of the deceased, and where he is dead or has been discharged or dismissed. Letters of administration, durante minori aetate, are granted where the testator, by his will, appoints an infaut executor, who is incapable of acting on account of his infancy. Such letters remain in force until the infant arrives at an age to take upon himself the execution of the will.
Lettuce (prison)
In the US penitentiary slang, prisoners who go out to gang rape.
PREVIOUS AND NEXT TERMS--------------------------------------
Letter book
Commerce. A book containing the copies of letters written by a merchant or trader to his correspondents.
Letter carrier.
A person employed to carry letters from the post office to the persons to whom they are addressed.
Letter of advice
Common law. A letter containing information of any circumstances unknown to the person to whom it is written; generally informing him of some act done by the writer of the letter.
Letter of attorney
Practice. A written instrument under seal, by which one or more persons, called the constituents, authorize one or more other persons called the attorneys, to do some lawful act by the latter, for or instead, and in the place of the former.
Letter of credence
International law. A written instrument addressed by the sovereign or chief magistrate of a state, to the sovereign or state to whom a public minister is sent, certifying his appointment as such, and the general objects of his mission, and requesting that full faith and credit may be given to what he shall do and say ou the part of his court.
Letter of credit
Letter of guarantee
A written undertaking, or letter of indemnity, usually provided by a bank, promising to hold the carrier (supra) harmless, up to a certain sum, for claims that may arise from the delivery of goods to a particular person who is unable to surrender the original bills of lading in return for the goods.
Letter of indemnity
A written undertaking by a shipper to indemnify a carrier for any liability which the carrier may incur for having issued a clean bill of lading (supra) when, in fact, the goods received were not as stated on the bill of lading (supra). Such a letter is usually a central document in a fraud, whereby the shipper and carrier knowingly misrepresent to third parties the actual order and condition of the goods at the time of shipment or the bad order of the packing, or whereby they issue duplicate bills of lading to replace lost or stolen originals. Letters of indemnity should not be condoned by courts and are generally held ineffective as against third parties.
Letter of license
Contracts. An instrument or writing made by creditors to their insolvent debtor, by which they bind themselves to allow him a longer time than he had a right to, for the payment of his debts and that they will not arrest or molest him in his person or property till after the expiration of such additional time.
Letter of marque and reprisal
War. A commission granted by the government to a private individual, to take the property of a foreign state, or of the citizens or subjects of such state, as a reparation for an injury committed by such state, its citizens or subjects. A vessel loaded with merchandise, on a voyage to a friendly port, but armed for its own defence in case of attack by an enemy, is also called a letter of marque.
Letter of recall
A written document addressed by the executive of one government to the executive of another, informing the latter that a minister sent by the former to him, has been recalled.
We thank you for using the Juridical Dictionary to search for Letter of credit. If you have a better definition for Letter of credit than the one presented here, please let us know by making use of the suggest a term option. This definition of Letter of credit may be disputed by other professionals. Our attempt is to provide easy definitions on Letter of credit and any other medical topic for the public at large.
This dictionary contains 8526 terms.
|
|