Trade Acceptance
Legal Definition and Related Resources of Trade Acceptance
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Trade Acceptance
A draft or bill of exchange drawn by the seller on the purchaser of goods sold and accepted by such purchaser. See Luikart v Massachussetts Bonding & Ins. Co., 129 Neb. 771, 263 N. W. 124. A negotiable instrument. See Merson v Sun Ins. Co., 253 N. Y.S.2d51, 44 Misc.2d 131. The purpose of such a draft or bill of exchange is to convert the seller's account receivable to a more liquid form for the purpose of discounting the same for immediate payment. See legal discount Corp. v Martin Hardware Co., 199 Wash. 476, 91 P. 2d 1010.
Financial Definition of Trade Acceptance
Written demand that has been accepted by an industrial company to pay a given sum at a future date. Related: banker's acceptance.
International Trade Meaning and Definition of Trade Acceptance
A time draft that is drawn on and accepted by an importer.
Related Entries of Trade Acceptance in the Lawi Project
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Trade Acceptance in Historical Law
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Legal Abbreviations and Acronyms
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Meaning of Trade Acceptance
Resources
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Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and publications valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
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