acceptance of a bill of exchange
- 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.
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They shall come up with acceptance on mine altar.
--Isa. lx. 7.
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2. State of being accepted; acceptableness. ``Makes it
assured of acceptance.'' --Shak.
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3. (Com.)
(a) An assent and engagement by the person on whom a bill
of exchange is drawn, to pay it when due according to
the terms of the acceptance.
(b) The bill itself when accepted.
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4. An agreeing to terms or proposals by which a bargain is
concluded and the parties are bound; the reception or
taking of a thing bought as that for which it was bought,
or as that agreed to be delivered, or the taking
possession as owner.
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5. (Law) An agreeing to the action of another, by some act
which binds the person in law.
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Note: What acts shall amount to such an acceptance is often a
question of great nicety and difficulty. --Mozley & W.
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Note: In modern law, proposal and acceptance are the
constituent elements into which all contracts are
resolved.
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{acceptance of a bill of exchange}, {acceptance of a check},
{acceptance of a draft}, or {acceptance of an order}, is an
engagement to pay it according to the terms. This
engagement is usually made by writing the word
``accepted'' across the face of the bill.
{Acceptance of goods}, under the statute of frauds, is an
intelligent acceptance by a party knowing the nature of
the transaction.
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6. Meaning; acceptation. [Obs.]
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{Acceptance of persons}, partiality, favoritism. See under
{Accept}.
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The Collaborative International Dictionary of English.
2000.
Look at other dictionaries:
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 — 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 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 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… … Ballentine's law dictionary
acceptance — I noun accedence, acceptio, accession, accordance, acknowledgment, acquiescence, adoption, agreement, allowance, approbation, approval, assent, assurance, compliance, comprobatio, concordance, consent, endorsement, ratification, receipt,… … Law dictionary
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 come up… … The Collaborative International Dictionary of English
acceptance of a check — 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
