- draft, sight
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n.A draft of money payable when presented.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
draft, sight
Look at other dictionaries:
sight draft — see draft Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. sight draft … Law dictionary
draft — A written order drawn by one party, called a drawer, that directs a second party (almost always a bank), called a drawee, to pay a sum of money to a third party, called the payee. For example, a check. Drafts are used with letters of credit.… … Financial and business terms
Draft — An unconventional order in writing signed by a person, usually the exporter, and addressed to the importer ordering the importer or the importer s agent to pay, on demand ( sight draft) or at a fixed future date ( time draft), the amount… … Financial and business terms
Sight draft — Sight Sight (s[imac]t), n. [OE. sight, si[thorn]t, siht, AS. siht, gesiht, gesih[eth], gesieh[eth], gesyh[eth]; akin to D. gezicht, G. sicht, gesicht, Dan. sigte, Sw. sigt, from the root of E. see. See {See}, v. t.] 1. The act of seeing;… … The Collaborative International Dictionary of English
draft — 1 n 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… … Law dictionary
Sight — (s[imac]t), n. [OE. sight, si[thorn]t, siht, AS. siht, gesiht, gesih[eth], gesieh[eth], gesyh[eth]; akin to D. gezicht, G. sicht, gesicht, Dan. sigte, Sw. sigt, from the root of E. see. See {See}, v. t.] 1. The act of seeing; perception of… … The Collaborative International Dictionary of English
sight — adj: payable on presentation see also sight draft at draft Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
sight — [sīt] n. [ME siht < OE (ge)siht < base of seon, to SEE1] 1. a) something seen; view b) a remarkable or spectacular view; spectacle c) a thing worth seeing usually used in pl. [the sights of the city] … English World dictionary
sight bill — A bill of exchange is a document addressed by the exporter to the importer requiring the importer to pay a sum of money. A term bill requires payment at a future date, whereas a sight draft must be settled immediately. Easyform Glossary of Law… … Law dictionary
draft — A written order by the first party, called the drawer, instructing a second party, called the drawee (such as a bank), to pay money to a third party, called the payee. An order to pay a sum certain in money, signed by a drawer, payable on demand… … Black's law dictionary
