acceptance of a draft


acceptance of a draft
Acceptance Ac*cept"ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster]

They shall come up with acceptance on mine altar. --Isa. lx. 7. [1913 Webster]

2. State of being accepted; acceptableness. ``Makes it assured of acceptance.'' --Shak. [1913 Webster]

3. (Com.) (a) An assent and engagement by the person on whom a bill of exchange is drawn, to pay it when due according to the terms of the acceptance. (b) The bill itself when accepted. [1913 Webster]

4. An agreeing to terms or proposals by which a bargain is concluded and the parties are bound; the reception or taking of a thing bought as that for which it was bought, or as that agreed to be delivered, or the taking possession as owner. [1913 Webster]

5. (Law) An agreeing to the action of another, by some act which binds the person in law. [1913 Webster]

Note: What acts shall amount to such an acceptance is often a question of great nicety and difficulty. --Mozley & W. [1913 Webster]

Note: In modern law, proposal and acceptance are the constituent elements into which all contracts are resolved. [1913 Webster]

{acceptance of a bill of exchange}, {acceptance of a check}, {acceptance of a draft}, or {acceptance of an order}, is an engagement to pay it according to the terms. This engagement is usually made by writing the word ``accepted'' across the face of the bill.

{Acceptance of goods}, under the statute of frauds, is an intelligent acceptance by a party knowing the nature of the transaction. [1913 Webster]

6. Meaning; acceptation. [Obs.] [1913 Webster]

{Acceptance of persons}, partiality, favoritism. See under {Accept}. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • acceptance — I noun accedence, acceptio, accession, accordance, acknowledgment, acquiescence, adoption, agreement, allowance, approbation, approval, assent, assurance, compliance, comprobatio, concordance, consent, endorsement, ratification, receipt,… …   Law dictionary

  • Acceptance — Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall come up… …   The Collaborative International Dictionary of English

  • acceptance of a bill of exchange — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • acceptance of a check — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • acceptance of an order — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • Acceptance of goods — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • Acceptance of persons — Acceptance Ac*cept ance, n. 1. The act of accepting; a receiving what is offered, with approbation, satisfaction, or acquiescence; esp., favorable reception; approval; as, the acceptance of a gift, office, doctrine, etc. [1913 Webster] They shall …   The Collaborative International Dictionary of English

  • acceptance bill — index draft Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • draft — 1 n 1: a preliminary version of something (as a law) 2 a: a system for or act of selecting individuals from a group (as for military service) b: the act or process of selecting an individual (as for political candidacy) without his or her… …   Law dictionary

  • acceptance — [ak sep′təns, əksep′təns] n. 1. an accepting or being accepted 2. approving reception; approval; acceptability 3. belief in; assent 4. a draft or bill of exchange that has been accepted for payment: cf. BANKER S ACCEPTANCE, TRADE ACCEPTANCE 5.… …   English World dictionary


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