May 2022

floating-rate note

floating-rate note A note carrying a variable interest rate that is periodically adjusted within a predetermined range, usu. every six months, in relation to an index, such as Treasury bill rates. ¡ª Also termed floater. [Cases: Bills and Notes 125; Interest 32. C.J.S. Bills and Notes; Letters of Credit ¡ì¡ì 84, 100; Interest and Usury;

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FOB shipping

FOB shipping A mercantile term denoting that the seller is required to bear the risk of placing the goods on a carrier. [Cases: Sales 201(4). C.J.S. Sales ¡ì¡ì 224¨C227.] How do Chinese lawyers translate the term FOB shipping?

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