Value bill (of exchange). A draft (bill of exchange) drawn against a consignment of property. For
instance, if A in New York ships goods to B in London and draws on B for the value " of the goods,
attaching the bill of lading, insurance policy, etc., to the draft (bill of exchange), the bill is a value
bill. Again, if a banker in New York sells securities to a banker in London and draws on the banker
in London for the value of the securities, attaching the securities to the draft (bill of exchange), the
bill is a value bill. See Non-value bill (of exchange).
instance, if A in New York ships goods to B in London and draws on B for the value " of the goods,
attaching the bill of lading, insurance policy, etc., to the draft (bill of exchange), the bill is a value
bill. Again, if a banker in New York sells securities to a banker in London and draws on the banker
in London for the value of the securities, attaching the securities to the draft (bill of exchange), the
bill is a value bill. See Non-value bill (of exchange).
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