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The applicant is the person or company who has requested the letter of credit to be issued; this will normally be the buyer. The beneficiary is the person or company who will be paid under the letter of credit; this will normally be the seller (UCP600 Article 2 defines the beneficiary as "the party in whose favour a credit is issued").
The word was transformed from its theater use into a term with strict technical theological meaning by Tertullian in his work, Adversus Praxean (Against Praxeas), in order to distinguish the three "persons" of the Trinity. Christianity is thus the first philosophical system to use the word "person" in its modern sense. [116]
A circular letter of credit issued by Baring Brothers to US Senator George Hoar for £1000, a very large sum of money in 1892.. A circular letter of credit was a letter of credit issued by a bank or related financial institution to a private person, usually an individual of means, which enabled that person to draw funds from correspondent banks while traveling.
The plural form "people" is often used to refer to an entire nation or ethnic group (as in "a people"), and this was the original meaning of the word; it subsequently acquired its use as a plural form of person. The plural form "persons" is often used in philosophical and legal writing.
Setting credit terms beyond those within credit analysts' authority. Setting credit rating criteria. Setting and ensuring compliance with a corporate credit policy. Pursuing legal remedies for non-payers. Obtaining security interests where necessary. Common examples of this could be PPSAs, letters of credit or personal guarantees.
Defining personhood is a controversial topic in philosophy and law and is closely tied with legal and political concepts of citizenship, equality, and liberty. According to law, only a natural person or legal personality has rights, protections, privileges, responsibilities, and legal liability. Philosophy of self; Psychology of self
In non-fiction writing, especially academic works, it is generally considered important to give credit to sources of information and ideas. Failure to do so often gives rise to charges of plagiarism, and "piracy" of intellectual rights such as the right to receive a royalty for having written.
Discussions of the beginning of personhood may be framed in terms of the moment life begins. James McGrath and others argue the beginning of personhood begins is not interchangeable with the beginning of a human life. [6] [7] [8]: 845 According to Jed Rubenfeld, the terms human being and person are not necessarily synonymous. [7] [9] [10] [11]