What does bill of exchange mean?

bill of exchange meaning in Legal Dictionary

n. a writing by a celebration (maker or cabinet) purchasing another (payor) to pay a certain amount to an authorized (payee). It will be the just like a draft. A bill of change attracted on a bank account is a "check."

bill of exchange meaning in Finance Dictionary

An old-fashioned term associated with a non-interest-bearing order in writing by anyone to another to cover a specified amount to a specified individual or bearer on a particular date. Expenses of exchange are similar to cheques and promissory records. They could be drawn by people or banking institutions and are generally transferable by recommendations. The difference between a promissory note and a bill of change is that this product is transferable. The person making your order or drawing the bill is known as the drawer. The person to who the bill is dealt with could be the drawee (like a bank). The person to who the bill is payable may be the payee. In addition understand as commercial bills, trade expenses and qualified expenses.

bill of exchange meaning in Law Dictionary

written purchase from A. to B., directing B. to cover to C. a specific sum of cash therein called. Byles, Bills, 1. An open (that is, unsealed) page dealt with by one individual to some other directing him, in place, to pay for, definitely at all occasions, a particular sum of money therein known as, to a third individual, or to virtually any to whom that 3rd individual may purchase that it is compensated, or it might be payable to bearer or even to the drawer himself. 1 Daniel, Neg. Inst. 27. A bill of change is a musical instrument, negotiable in form, wherein one, that is called the “drawer,” needs another, known as the “drawee,” to pay a specified sum of cash. Civil Code Cal.

bill of exchange meaning in General Dictionary

a document ordering the repayment of income; attracted by anyone or bank on another

Sentence Examples with the word bill of exchange

I heard it proposed lately that two young men should travel together over the world, the one without money, earning his means as he went, before the mast and behind the plow, the other carrying a bill of exchange in his pocket.

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