- overdraft
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over·draft /'ō-vər-ˌdraft/ n1: the act or result of drawing on a bank account for more than the balance; also: the amount exceeding the balance in an overdraft2: a loan or credit extended on a current account esp. to established or institutional customers
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- overdraft
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n.The condition of drawing more money out of an account than it has in it, such as by writing a check for too great an amount.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- overdraft
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The amount by which withdrawals exceed deposits. It is an uncommitted loan facility; almost invariably on demand, that is capable of being required by the lending bank to be repaid (or reduced to zero) at any time, even if the borrower is not in default. In its proper use, it is really only a tool to aid cash flow management.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- overdraft
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A check that is drawn on an account containing less money than the amount stated on the check.
Dictionary from West's Encyclopedia of American Law. 2005.
- overdraft
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A check that is drawn on an account containing less money than the amount stated on the check.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.