bill of exchange definition

  • noun:
    • A written order directing that a specified sum of money be compensated to a specified individual.
    • A document demanding repayment from another party, especially used in international trade.
    • a written purchase or demand from one individual or house to another, desiring the latter to pay for for some person designated a certain sum of cash therein usually is, and, become negotiable, must be, made payable to order or even bearer. So also your order usually expresses a specified time of repayment, which it really is attracted for worth. The person who attracts the balance is named the drawer, the person on who it's attracted is, before acceptance, labeled as the drawee, -- after acceptance, the acceptor; the person to who the funds is directed becoming paid is called the payee. The person making your order may himself function as payee. The bill is often called a draft. See Exchange.
    • See under Bill.
    • a document ordering the payment of cash; attracted by one person or bank on another
    • A written purchase directing that a specified sum of money be compensated to a specified person.
    • A document demanding repayment from another party, especially found in international trade.
    • a written order or request in one person or household to another, desiring the second to pay for to some person designated a specific sum of cash therein usually is, and, to-be negotiable, must certanly be, made payable to order or even bearer. Therefore in addition the order typically expresses a specified time of payment, hence it is drawn for worth. The person who attracts the balance is known as the cabinet, the individual on whom it is drawn is, before acceptance, called the drawee, -- after acceptance, the acceptor; anyone to who the amount of money is directed become compensated is named the payee. The individual making the order may himself be the payee. The balance itself is regularly called a draft. See Exchange.
    • View under Bill.
    • a document buying the payment of cash; drawn by one individual or bank on another

Related Sources

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