Legal Definition and Related Resources of Bank Credit

A signed writing by which a bank engages to honor drafts drawn pursuant to its terms and includes an authority to pay or to purchase such a draft and a bank making such an engagement is an issuer.

Browse or run a search for Bank Credit 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.

Bank Credit in Historical Law

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

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

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What does Bank Credit mean in American Law?

The definition of Bank Credit in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A right granted by a bank to a customer enabling him to borrow up to a certain stipulated limit without individually negotiating each loan. See also overdraft.