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A bill of exchange, a short-term negotiable instrument, is a signed, unconditional, written order binding one party to pay a fixed sum of money to another party on demand or at a predetermined date. A bill of exchange is sometimes called draft or draught, but draft usually applies to domestic transactions only.
12 U.S. Code § 361 - Bills receivable, bills of exchange, acceptances; regulations by Board of Governors. The discount and rediscount and the purchase and sale by any Federal reserve bank of any bills receivable and of domestic and foreign bills of exchange, and of acceptances authorized by this chapter, shall be subject to such restrictions ...
An Act to codify the law relating to Bills of Exchange, Cheques, and Promissory Notes.
A bill of exchange is a written order binding one party to pay a fixed sum of money to another party on demand or at some point in the future. A bill of exchange often includes three...
The Bills of Exchange Act, 1882. This is a digital copy of a book that was preserved for generations on library shelves before it was carefully scanned by Google as part of a project to make the world’s books discoverable online.
The purpose of this file is to create documents (Bill of Exchange, Letter of Advice, etc.) that can be used to discharge debts. A Bill of Exchange (BOE) cannot be used to buy an item (car, house, stereo system, big screen TV, etc.). A BOE can only be used to discharge pre-existing debts.
Bill of exchange. A bill of exchange or "draft" is a written order by the drawer to the drawee to pay money to the payee. A common type of bill of exchange is the cheque (check in American English), defined as a bill of exchange drawn on a banker and payable on demand.
Examples of negotiable instruments include bank checks, promissory notes, certificates of deposit, and bills of exchange. The issuance and transfer of negotiable instruments in the United States are governed by Article 3 of the Uniform Commercial Code, Article 4 of the Uniform Commercial Code, and Article 8 of the Uniform Commercial Code.
bill of exchange, short-term negotiable financial instrument consisting of an order in writing addressed by one person (the seller of goods) to another (the buyer) requiring the latter to pay on demand (a sight draft) or at a fixed or determinable future time (a time draft) a certain sum of money to a specified person or to the bearer of the bill.
A bill of exchange where party signing as drawer, acceptor or indorser does not receive value for doing so is an accommodation bill.