This is a standard Edit menu, with the usual Undo, Redo, Cut, Copy, etc commands.
The "Edit > Spelling and Grammar" sub-menu includes commands to check the spelling and grammar of the document, and to enable checking for spelling and grammar errors while you type.
The "Edit > Substitutions" sub-menu has options to use smart copy/paste, smart quotes, and smart links. See the General preferences for more information.