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 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:

  • Bill of exchange — Bill Bill, n. [OE. bill, bille, fr. LL. billa (or OF. bille), for L. bulla anything rounded, LL., seal, stamp, letter, edict, roll; cf. F. bille a ball, prob. fr. Ger.; cf. MHG. bickel, D. bikkel, dice. Cf. {Bull} papal edict, {Billet} a paper.]… …   The Collaborative International Dictionary of English

  • bill of exchange — see bill 7 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bill of exchange …   Law dictionary

  • bill of exchange — noun a document ordering the payment of money; drawn by one person or bank on another • Syn: ↑draft, ↑order of payment • Hypernyms: ↑negotiable instrument • Hyponyms: ↑overdraft, ↑foreign bill …   Useful english dictionary

  • bill of exchange — An unconditional order in writing, addressed by one person (the drawer) to another (the drawee) and signed by the person giving it, requiring the drawee to pay on demand or at a fixed or determinable future time a specified sum of money to or to… …   Big dictionary of business and management

  • bill of exchange — Fin an unconditional order in writing from one person (the drawer) to another (the drawee and signatory), requiring the drawee to pay on demand a sum to a specified person (the payee) or bearer. It is now usually used in overseas trade and the… …   The ultimate business dictionary

  • bill of exchange — An unconditional order in writing, addressed by one person (the drawer) to another (the drawee) and signed by the person giving it, requiring the drawee to pay on demand or at a fixed or determinable future time a specified sum of money to or to… …   Accounting dictionary

  • acceptance of bill of exchange — The drawee s signed engagement to honor the bill as presented; the signification by the drawee of his assent to the order of the drawer and his agreement to pay the bill when it falls due. 11 Am J2d B & N § 500. The contract of the acceptor, by… …   Ballentine's law dictionary

  • Presentment of a bill of exchange — Presentment Pre*sent ment, n. 1. The act of presenting, or the state of being presented; presentation. Upon the heels of my presentment. Shak. [1913 Webster] 2. Setting forth to view; delineation; appearance; representation; exhibition. [1913… …   The Collaborative International Dictionary of English

  • presentment of bill of exchange — See presentment for acceptance; presentment for payment …   Ballentine's law dictionary

  • 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

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