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Can someone please explain this syntax in Javascript - " type = type || 'fx' "

Author Votes Δ
Martin. 4 +3.74
Jemaclus 2 +2.45
KooiInc 1 +0.61
Eric 0 -0.49
Jeff 0 -1.85
BZink 0 -1.61
nmichaels 0 -0.46
Last visited: Sep 14, 2014, 5:07:29 AM