Legal Definition and Related Resources of Trade Acceptance

A draft or bill of exchange drawn by the seller on the purchaser of goods sold and accepted by such purchaser. See Luikart v Massachussetts Bonding & Ins. Co., 129 Neb. 771, 263 N. W. 124. A negotiable instrument . See Merson v Sun Ins. Co., 253 N. Y.S.2d51, 44 Misc.2d 131. The purpose of such a draft or bill of exchange is to convert the seller’s account receivable to a more liquid form for the purpose of discounting the same for immediate payment . See legal discount Corp. v Martin Hardware Co., 199 Wash. 476, 91 P. 2d 1010.

Written demand that has been accepted by an industrial company to pay a given sum at a future date. Related: banker’s acceptance.

A time draft that is drawn on and accepted by an importer.

Browse or run a search for Trade Acceptance in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Trade Acceptance in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Trade Acceptance in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Trade Acceptance in the Legal Abbreviations and Acronyms Dictionary.

You might be also interested in these legal terms:

Meaning of Trade Acceptance

Resources

See Also