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Sight Meaning in Legal Terms

At FindLaw.com, we pride ourselves on being the leading source of free legal information and resources on the Internet. Contact us. Middle English, Old English prospers ability or act of seeing, thing seen; Similar to Old High German gisiht view, Old English sÄon to see The seller usually has to take the bill of lading (BoL) after clarifying all shipping matters necessary for export transactions with customs under a letter of credit in sight. The exporter would then take the BoL and present it with the letter of credit and other required documents to the bank so that the payment could be released. The three homophones mention, view and site are sometimes confused by some people when used as nouns (view and place) or verbs (all three words). You don`t have to cause any problems: with a little thought, most people who struggle with them can agree on the right choice. Abogado.com The #1 Spanish Legal Website for Consumers And while all homophones can be tricky, in this case the two words mentioned above are supplemented (and still complicated) by a third, less similar spelling, but still identical in sound (view). On-demand transactions are different from upfront payments, which are common in retail. Both transactions may require payment on demand. This is different from visual exchanges, which depend on filing documents to complete the transaction. Although the completion of the money transfer is immediate, it may be delayed during the collection of the documents to be submitted. Most of the senses of seeing deal with the act or act of seeing (it comes from the Old English siht, which means “ability or act of seeing, seen”). A wonderful sight could be described as a sight, as well as the general ability to see something (“my eyesight is not as good as it used to be”).

If you associate citation with quote, vision with sight, and location with location, you are unlikely to make a mistake. On sight, payments are most often used in legal contracts to describe when payment must be made. A seller could include a demand clause in a contract to require full demand payment. This may be the case if the buyer has missed payments in the past and has a higher risk of default. The quotation usually functions as a verb (although it is sometimes found as a shortening of the noun quotation, with meanings such as “cite as an example, authority or evidence”, “name in a summons” and “order to appear before a court”. The word comes from the Latin citare (“to shake, call, summon”) and is often used to refer to something. This type of demand transaction offers protection to both the buyer and the seller, as payment is guaranteed to the seller but is not released until the goods are paid for in the buyer`s name. Are you a lawyer? Visit our professional website » The State Department of Substance Abuse and several Utah medical groups applauded the campaign and saw the need for healthier lifestyle programs that reward participants for good behavior instead of focusing on bad habits. – The Salt Lake Tribune (Salt Lake City, UT), June 19, 2001 LawInfo.com Nationwide Bar Directory and Legal Consumer Resources On demand, payment is due upon request. It obliges the recipient of the goods or services to pay a certain amount immediately after the presentation of the bill of exchange. FindLaw.com Free and reliable legal information for consumers and lawyers If you still have trouble distinguishing these three words, try to associate quote with quote, sight view and site to situate. Cite, Site and Sight are often confused in use.

Quotation, which is often used to refer to something, usually functions as a verb (“to cite a source”). Site can be either a noun or a verb that refers to a place or the act of finding a place for something. Voir usually deals with the action or action of seeing (as in “a beautiful view”). The FindLaw Legal Dictionary – free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries. In emerging and frontier markets, it`s not uncommon for currency valuations to fluctuate significantly, meaning the local cost of buying something in US dollars (USD), for example, can change frequently. A foreign customer may agree to buy a particular product and pay for it at a later date, only to find out later that the devaluation of their local currency made the purchase much more expensive. This type of payment is also known as “visual draft” or “visa”. If a bill of exchange is expressed as payable “on demand”, i.e. when it is presented at the draw. See Campbell v.

French, 0 Term, 212. On sight, transactions are often part of the sale of exports. The seller or exporter of goods may be paid by a so-called demand letter of credit or a demand letter of credit. Using this method ensures that the seller is paid on demand if they meet the requirements outlined in the letter. This may include, but is not limited to, proof that the goods have been shipped to the buyer. Contracts. Bills of exchange are often payable on demand, i.e. on presentation, which can of course be understood to mean that the bill of exchange must then be paid immediately; But although the point is not clear, it seems that the recipient is entitled to the days of grace. 2.

The holder of an invoice payable on demand shall be obliged to circulate it promptly or to have it submitted for acceptance within a reasonable time. 3. If the invoice is payable several days after the inspection, the period begins to run from the deadline for submission and acceptance and not from the time of simple presentation. Location can be either a noun (e.g., “a space occupied or intended to be occupied by a building” or “the place, scene or point of an event or event”) or a verb (“placed on a site or in position”).