acceptance of bill of exchange

The drawee's signed engagement to honor the bill as presented; the signification by the drawee of' his assent to the order of the drawer and his agreement to pay the bill when it falls due. 11 Am J2d B & N § 500. The contract of the acceptor, by his acceptance, is, that he will pay the bill, upon due presentment thereof, at its maturity, or its becoming due. 11 Am J2d B & N § 500.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • acceptance of a bill of exchange — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • Bill of exchange — Bill Bill, n. [OE. bill, bille, fr. LL. billa (or OF. bille), for L. bulla anything rounded, LL., seal, stamp, letter, edict, roll; cf. F. bille a ball, prob. fr. Ger.; cf. MHG. bickel, D. bikkel, dice. Cf. {Bull} papal edict, {Billet} a paper.]… …   The Collaborative International Dictionary of English

  • bill of exchange — see bill 7 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bill of exchange …   Law dictionary

  • bill of exchange — noun a document ordering the payment of money; drawn by one person or bank on another • Syn: ↑draft, ↑order of payment • Hypernyms: ↑negotiable instrument • Hyponyms: ↑overdraft, ↑foreign bill …   Useful english dictionary

  • bill of exchange — An unconditional order in writing, addressed by one person (the drawer) to another (the drawee) and signed by the person giving it, requiring the drawee to pay on demand or at a fixed or determinable future time a specified sum of money to or to… …   Big dictionary of business and management

  • bill of exchange — Fin an unconditional order in writing from one person (the drawer) to another (the drawee and signatory), requiring the drawee to pay on demand a sum to a specified person (the payee) or bearer. It is now usually used in overseas trade and the… …   The ultimate business dictionary

  • bill of exchange — An unconditional order in writing, addressed by one person (the drawer) to another (the drawee) and signed by the person giving it, requiring the drawee to pay on demand or at a fixed or determinable future time a specified sum of money to or to… …   Accounting dictionary

  • presentment of bill of exchange — See presentment for acceptance; presentment for payment …   Ballentine's law dictionary

  • Presentment of a bill of exchange — Presentment Pre*sent ment, n. 1. The act of presenting, or the state of being presented; presentation. Upon the heels of my presentment. Shak. [1913 Webster] 2. Setting forth to view; delineation; appearance; representation; exhibition. [1913… …   The Collaborative International Dictionary of English

  • acceptance of draft — Same as acceptance of bill of exchange …   Ballentine's law dictionary

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