Draft Or Draught - Law Dictionary Search Results
Home Dictionary Name: draft or draughtDraft, or draught
Draft, or draught, a bill drawn by one person upon another for a sum of money; an order in writing to pay money; also a sketch or suggested form of a legal or any document, etc., to be settled previously to engrossment. Drafts are the property of the client, in business within the Solicitors Remuneration Order, 1882 (see SOLICITOR), by r. 3 of that Order. See CHEQUE....
Draft
The act of drawing also the thing drawn Same as Draught...
draft
draft 1 : a preliminary version of something (as a law) 2 a : a system for or act of selecting individuals from a group (as for military service) b : the act or process of selecting an individual (as for political candidacy) without his or her expressed consent 3 : an order for the payment of money drawn by one person or bank on another see also drawee, drawer compare check documentary draft : a draft that will be honored only upon the presentation of certain documents (as an invoice or certificate of title) sight draft : a draft payable on presentation time draft : a draft payable a specified number of days after the date of the draft or of its presentation vt 1 : to select for some purpose ;specif : to conscript for military service 2 : to compose or prepare esp. the preliminary version of [ing legislation] vi : to practice draftsmanship draft·er n ...
Banker's Draft
Banker's Draft. A banker's draft is defined by s. 1 of the (English) Bills of Exchange Act (1882) Amendment Act, 1932 (22 & 23 Geo. 5, c. 44), as 'a draft payable on demand drawn by or on behalf of a bank upon itself whether payable at the head office or some other office of the bank.' This Act makes ss. 76 and 82 of the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), applicable to a banker's draft as if it were a cheque....
Draughts
A mild vesicatory See Draught n 3 c...
documentary draft
documentary draft see draft ...
sight draft
sight draft see draft ...
time draft
time draft see draft ...
Re-draft
Re-draft, a second bill of exchange.A second negotiable instrument offered by drawers after first instrument has been dishonoured, Black's Law Dictionary, 7th Edn., p. 1283....
Allowance
Allowance [fr. locare, Lat.; allocare, allogare, It.; alogar, Prov.; louer, allouer, Fr., to place or assign], a deduction, an average payment, a portion.Also in selling goods, or in paying duties upon them, certain deductions are made from their weights, depending on the nature of the packages in which they are inclosed, and which are regulated in most instances by the custom of merchants, and the rules laid down by public offices. These allowances, as they are termed are distinguished by the epithets draft, tare, tret, and cloff.Draft is a deduction from the original or gross weight of goods, and is substracted before the tare is taken off.Tare is an allowance for the weight of the bag, box, cask, or other package in which goods are weighed.Real, or open tare, is the actual weight of the package.Customary tare is, as its name implies, an established allowance for the weight of the package.Computed tare is an estimated allowance agreed upon at the time.Average tare is when a few packa...
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