Confusing use of && and || operators

I was skimming through an /etc/rc.d/init.d/sendmail file (I know this is hardly ever used, but I'm studying for an exam), and I've become a bit confused about the && and the || operators. I've read where they can be used in statements such as

if [ test1 ] && [ test2 ]; then
     echo "both tests are true"
elif [ test1 ] || [ test2 ]; then
     echo "one test is true"
fi

This script however shows single line statements such as

[ -z "$SMQUEUE" ] && SMQUEUE="QUEUE"
[ -f /usr/sbin/sendmail ] || exit 0

These seem to be using the && and || operators to elicit responses based on tests, but I haven't been able to dig up documenation regarding this particular use of these operators. Can you explain what they are trying to achieve in this specific context?

The right side of && will only be evaluated if the exit status of the left side is zero (i.e. true). || is the opposite: it will evaluate the right side only if the left side exit status is non-zero (i.e. false).

You can consider [ ... ] to be a program with a return value. If the test inside evaluates true it returns zero otherwise

Examples:

$ false && echo howdy!

$ true && echo howdy!
howdy!
$ true || echo howdy!

$ false || echo howdy!
howdy!

Extra notes:

If you do which [ , you might see that [ actually does point to a program! It's usually not actually the one that runs in scripts, though; run type [ to see what actually gets run. If you wan to try using the program, just give the full path like so: /bin/[ 1 = 1 .