Legal Definition and Related Resources of Days of grace
Meaning of Days of grace
In mercantile law. Certain days (generally three) allowed to the acceptor of a bill or the maker of a note in which to make payment, in addition to the time contracted for by the bill or note itself.
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| Days Of Grace in the Dictionary | Days Of Grace in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Days Of Grace |
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| Related topics | Days Of Grace in the World Encyclopedia of Law |
Notice
This definition of Days Of Grace is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Days of grace in Law Enforcement
Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of days of grace.
Resources
See Also
- Law Enforcement Officer
- Policeman
- Law Enforcement Agency
Further Reading
- days of grace in A Dictionary of Law Enforcement (Oxford University Press)
- days of grace in the Encyclopedia of Law Enforcement
- A Treatise on the Police of the Metropolis
English Legal System: Days of Grace
In the context of the English law, A Dictionary of Law provides the following legal concept of Days of Grace : The three days that were added to the time of payment fixed by a *bill of exchange not payable on demand before the Banking and Financial Dealings Act 1971 came into force. A bill drawn on or after 16 January 1972 is payable in all cases on the last day of the time of payment fixed by the bill or, if that is a nonbusiness day, on the succeeding business day.
What is Days of Grace?
A definition of Days of Grace is: Time of indulgence granted to an acceptor or maker for the payment of his bill of exchange or note. More details on the Encyclopedia. It was originally a gratuitous favor (hence the name), but custom has rendered it a legal right.[1]
Resources
Notes
- “Days of Grace” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)
See Also
- Days of grace
- Grace period
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