Bill of exchange. A written order or request from one person to another for the payment of
money to a third, the amount to be charged to the drawer (issuer) of the bill.
There is practically no difference between a bill of exchange and a draft. The term bill of
exchange, however, is commonly applied to an order for money payable in a foreign country,
whereas the term draft is applied to an order payable within the country of its origin.
money to a third, the amount to be charged to the drawer (issuer) of the bill.
There is practically no difference between a bill of exchange and a draft. The term bill of
exchange, however, is commonly applied to an order for money payable in a foreign country,
whereas the term draft is applied to an order payable within the country of its origin.
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