3. etters of credit （信用证） ： A standard， commercial letter of credit （ LC） is a document issued mostly by a financial institution， used primarily in trade finance， which usually provides an irrevocable payment undertaking. TheLC can also besourceof payment for a transaction， meaning that redeeming the letter of credit will pay an exporter. Letters of credit are used primarily in international trade transactions of significant value， for deals between a supplier in one country and a customer in another. They are also used in the land development process to ensure that approved public facilities （ streets， sidewalks， storm water ponds， etc. ） will be built.
4. Bulk Sales Act （《大宗货物销售条例》） ： A bulk sale， sometimes called a bulk transfer， is a aleof goods by a business that represents all or substantially all of its inventory to a single buyer unless such a salewould be common in the ordinary course of its business. In order to protect the purchaser fromclaims made by creditors of the seller， theseller must usually complete an affidavit outlining its secured and unsecured creditors. The affidavit must usually be filed with a government department， such as a court office. Such procedures are outlined in the bulk sales act of most jurisdictions. If the buyer does not complete the registration process for a bulk sale， creditors of theseller may obtain a declaration that the sale was invalid against the creditors and thecreditors may take possession of thegoods or obtain judgment for any proceeds the buyer received from a subsequent sale.
5.ational Conference of Commissioners （统一州法委员会） ： The National Conference f Commissioners on Uniform State Laws （ NCCUSL ） is a non-profit， unincorporated ssociation commonly referred to as U.S. Uniform Law Commission in the United States hat consists of commissioners appointed by each state， the District of Columbia， the ommonwealth of Puerto Rico and the United States Virgin Islands. The purpose of the rganization is to discuss and debate in which areas of law there should be uniformity mong the states and territories and to draft acts accordingly （ called Uniform Acts） . The esults of these discussions areproposed to thevarious jurisdictions as either model acts or uniform acts. NCCUSL is best known for its work on the landmark legislation Uniform Comm ercial Code， drafted in conjunction with the American Law Institute. NCCUSL headquarters are in Chicago， Illinois.
I Reading comprehension.
1.hat is the commercial law？
2. Is commercial law the only law that controls how commerce is conducted？
3. What does the power of the Congress over commerce include？
4. What s the interpretation of the commerce clause by the Supreme Court？
5. What is the UniformCom mercial Code？
6. How many articles does the UniformCommercial Codeconsist of ？ What are they ？
II Phrase translation from Chinese into English.
1.《统一商法典 》2.统一州法委员会
3.《第十修正案》4.最高法院
5.总则6.商业票据
7.信用证8.物权凭证
III
Fill in the blanks with the words and expressions in the box.
apparent exponentially majority commercial
standardizationdomestic
Since World War II， international trade has grown （ 1）and with it the importance of international law. With the increased business between companies in different nations，the need forincreased harmonization ofcommerciallaws has become（ 2）. Knowledge of international （ 3）law has become important for the transactional lawyer， even thoseoutsidemajor metropolitan areas. Recently， Lexis Nexis and the International Bar Association jointly sponsored a survey of attorneys in eight countries， including the United States. The results of the survey reveal that while the practice of law is still largely （ 4）， the convergence of laws in certain areas， particularly trade and investment， is occurring. Thevast （ 5）of the attorneys surveyed believed that the international （ 6）of trade and investment law would be beneficial.
IV Paragraph translation from English into Chinese.
