Explain this fragment of jQuery to me
<p>I am newbie to jQuery, can someone explain what this code does:</p>

<pre><code>$(document).ready(function() {
    var order = null;
    $("#order-list").load(location.href+" #order-list&gt;*","");   
    $("#order-list").sortable({
      handle : '.handle',
      update : function (e, ui) {
             order = $(this).sortable('serialize');
         $("#info").load("process-sortable.php?"+order);
    }
    });

});
</code></pre>
