Definition of bill of exchange in English:
A written order to a person requiring them to make a specified payment to the signatory or to a named payee; a promissory note.
- Included are the traditional bills of exchange, cheques, promissory notes, bonds, and share warrants, as well as share certificates, money transfer orders, and deposit receipts.
- Thus bills of exchange, promissory notes, and certificates of deposit can be, and frequently are, pledged to banks.
- The manufacturer offered the merchant a bill of exchange, promising payment of, say, £100 in six months, so escaping the constraints of the usury laws with their upper limits on interest rates.
Definition of bill of exchange in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Malaysia
Most popular in India
Most popular in Pakistan