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Uniform customs and practice for documentary credits
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Uniform customs and practice for documentary creditsUniform Customs and Practice for Documentary Credits are rules adopted by the International Chamber of Commerce, defining the rights and duties of parties to letters of credit. The most recent revision, prepared in 1993, came into effect on January 1, 1994 and is now known as UCP 500 (1994).
RELATED TERMS--------------------------------------
Customs
This term is usually applied to those taxes which are payable upon goods and merchandise imported or exported.
Practice
The form, manner and order of conducting and carrying on suits or prosecutions in the courts through their various stages, according, to the principles of law, and the rules laid down by the respective courts.
Rules
English law. The rules of the King's Bench and Fleet are certain limits without the actual walls of the prisons, where the prisoner, on proper security previously given to the marshal of the king's bench, or warden of the fleet, may reside; those limits are considered, for all legal and practical purposes, as merely a further extension of the prison walls.
International
That which pertains to intercourse between nations. International law is that which regulates the intercourse between, or the relative rights of nations.
Chamber
A room in a house.
Commerce
Latin commercium. In its simplest signification, an exchange of goods; but in the advancement of society, labor, transportation, itelligence, care and various mediums of exchange, become commodities and enter into commerce. Gibbens v. Ogden, 9 Wheat. 1, 229 (1824), Marshall, Chief Justice. The interchange or mutual change of goods, productions, or property of any kind, between nations or individuals.
Duties
In its most enlarged sense, this word is nearly equivalent to taxes, embracing all impositions or charges levied on persons or things; in its more restrained sense, it is often used as equivalent to customs or imposts.
Parties
Contracts. Those persons who engage themselves to do, or not to do the matters and things contained in an agreement.
Credit
Common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits.
Effect
The operation of a law, of an agreement, or an act, is called its effect.
SIMILAR TERMS--------------------------------------
Uniform commercial code
Uniform Comercial Code (U.C.C). A uniform law governing commercial transactions. The U.C.C. has been adopted by all states except Louisiana.
Uniform laws
Annotated Annotated uniform and model acts approved by the National Conference of Commissioners on Uniform State Laws.
PREVIOUS AND NEXT TERMS--------------------------------------
Unethical
Behavior that does not meet community standards for "right behavior," but that does not violate any laws either.
Unfair dismissal
An employee who has been dismissed can make a claim to an Industrial Tribunal that he has been unfairly dismissed. If the employer is unable to show that the dismissal was fair, based on a limited number of grounds, the Industrial Tribunal will award compensation up to a statutory maximum to be paid by the employer to the former employee. Unfair dismissal applies irrespective of any contractual period of notice.Unfair dismissal should not be confused with wrongful dismissal.
Unfair labor practice
Actions by the employer which interfere with, restrain, coerce, or threaten employees with respect to their rights.
Unica taxatio
Practice. The ancient language of a special award of venire, where of several defendants, one pleads, and one lets judgment go by default, whereby the jury, who are to try and assess damages on the issue, are also to assess damages against the defendant suffering judgment by default.
Uniform commercial code
Uniform Comercial Code (U.C.C). A uniform law governing commercial transactions. The U.C.C. has been adopted by all states except Louisiana.
Uniform customs and practice for documentary credits
Uniform laws
Annotated Annotated uniform and model acts approved by the National Conference of Commissioners on Uniform State Laws.
Unilateral contract
Civil law. When the party to whom an engagement is made, makes no express agreement on his part, the contract is called uni-lateral, even in cases where the law attaches certain obligations to his acceptance. A loan of money, and a loan for use, are of this kind.
Unintelligible
That which cannot be understood.
Unio prolium
A species of adoption used among the Germans; it signifies union of descent. It takes place when a widower, having children, marries a widow, who also has children. These parents then agree that the children of both marriages shall have the rights to their succession, as those which may be the fruits of their marriage.
Union
By this word is understood the United States of America; as, all good citizens will support the Union.
RELATED TERMS--------------------------------------
Customs
This term is usually applied to those taxes which are payable upon goods and merchandise imported or exported.
Practice
The form, manner and order of conducting and carrying on suits or prosecutions in the courts through their various stages, according, to the principles of law, and the rules laid down by the respective courts.
Rules
English law. The rules of the King's Bench and Fleet are certain limits without the actual walls of the prisons, where the prisoner, on proper security previously given to the marshal of the king's bench, or warden of the fleet, may reside; those limits are considered, for all legal and practical purposes, as merely a further extension of the prison walls.
International
That which pertains to intercourse between nations. International law is that which regulates the intercourse between, or the relative rights of nations.
Chamber
A room in a house.
Commerce
Latin commercium. In its simplest signification, an exchange of goods; but in the advancement of society, labor, transportation, itelligence, care and various mediums of exchange, become commodities and enter into commerce. Gibbens v. Ogden, 9 Wheat. 1, 229 (1824), Marshall, Chief Justice. The interchange or mutual change of goods, productions, or property of any kind, between nations or individuals.
Duties
In its most enlarged sense, this word is nearly equivalent to taxes, embracing all impositions or charges levied on persons or things; in its more restrained sense, it is often used as equivalent to customs or imposts.
Parties
Contracts. Those persons who engage themselves to do, or not to do the matters and things contained in an agreement.
Credit
Common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits.
Effect
The operation of a law, of an agreement, or an act, is called its effect.
SIMILAR TERMS--------------------------------------
Uniform commercial code
Uniform Comercial Code (U.C.C). A uniform law governing commercial transactions. The U.C.C. has been adopted by all states except Louisiana.
Uniform laws
Annotated Annotated uniform and model acts approved by the National Conference of Commissioners on Uniform State Laws.
PREVIOUS AND NEXT TERMS--------------------------------------
Unethical
Behavior that does not meet community standards for "right behavior," but that does not violate any laws either.
Unfair dismissal
An employee who has been dismissed can make a claim to an Industrial Tribunal that he has been unfairly dismissed. If the employer is unable to show that the dismissal was fair, based on a limited number of grounds, the Industrial Tribunal will award compensation up to a statutory maximum to be paid by the employer to the former employee. Unfair dismissal applies irrespective of any contractual period of notice.Unfair dismissal should not be confused with wrongful dismissal.
Unfair labor practice
Actions by the employer which interfere with, restrain, coerce, or threaten employees with respect to their rights.
Unica taxatio
Practice. The ancient language of a special award of venire, where of several defendants, one pleads, and one lets judgment go by default, whereby the jury, who are to try and assess damages on the issue, are also to assess damages against the defendant suffering judgment by default.
Uniform commercial code
Uniform Comercial Code (U.C.C). A uniform law governing commercial transactions. The U.C.C. has been adopted by all states except Louisiana.
Uniform customs and practice for documentary credits
Uniform laws
Annotated Annotated uniform and model acts approved by the National Conference of Commissioners on Uniform State Laws.
Unilateral contract
Civil law. When the party to whom an engagement is made, makes no express agreement on his part, the contract is called uni-lateral, even in cases where the law attaches certain obligations to his acceptance. A loan of money, and a loan for use, are of this kind.
Unintelligible
That which cannot be understood.
Unio prolium
A species of adoption used among the Germans; it signifies union of descent. It takes place when a widower, having children, marries a widow, who also has children. These parents then agree that the children of both marriages shall have the rights to their succession, as those which may be the fruits of their marriage.
Union
By this word is understood the United States of America; as, all good citizens will support the Union.
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This dictionary contains 8526 terms.
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