单词 | acceptance of a bill of exchange |
释义 | acceptance of a bill of exchangeDefinition Process by which a buyer (called a 'drawee') accepts the seller's bill of exchange by signing under the words 'accepted' on face of the bill. By this act, the drawee becomes the acceptor and converts the bill into a post-dated check an unconditional obligation to pay it on or before its maturity date. |
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