bankers' draft
Either an instrument in the form of a cheque consisting of an order to pay drawn by a branch of the debtor's bank on another branch of the same bank or an instrument in the form of a promissory note representing a promise by the debtor's bank to pay the specified sum. In contrast to a cheque drawn by the debtor on his bank, a bankers' draft represents a contractual obligation of payment of the debtor's bank and not the debtor.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Bankers' acceptance — A banker s acceptance, or BA, is a time draft drawn on and accepted by a bank. Before acceptance, the draft is not an obligation of the bank; it is merely an order by the drawer to the bank to pay a specified sum of money on a specified date to a …   Wikipedia

  • Demand draft — A demand draft A demand draft, also known as a remotely created check, a tele check, or check by phone, check by fax or echeck, is a check created by a merchant with a buyer s checking account number on it, but without the buyer s original… …   Wikipedia

  • Food-Draft — Ein Food Draft (engl. food draft, Lebensmittelwechsel) war nach dem Ersten Weltkrieg ein in den USA zu kaufender Gutschein, mit dessen Hilfe amerikanische Bürger ihren europäischen, von Nahrungsmittelknappheit betroffenen Verwandten und Freunden… …   Deutsch Wikipedia

  • Cheque — A Canadian cheque …   Wikipedia

  • APACS — (Association for Payment Clearing Services), the UK payments association, is the trade body that gives banks, building societies and card issuers a forum where they can work together on non competitive issues. They manage the way that businesses… …   Wikipedia

  • forgery — for‧ge‧ry [ˈfɔːdʒəri ǁ ˈfɔːr ] noun forgeries PLURALFORM 1. [countable] LAW a document, piece of money, or signature that has been copied illegally: • It turned out that the will was a forgery. 2 …   Financial and business terms

  • France — /frans, frahns/; Fr. /frddahonns/, n. 1. Anatole /ann nann tawl /, (Jacques Anatole Thibault), 1844 1924, French novelist and essayist: Nobel prize 1921. 2. a republic in W Europe. 58,470,421; 212,736 sq. mi. (550,985 sq. km). Cap.: Paris. 3.… …   Universalium

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Italy — /it l ee/, n. a republic in S Europe, comprising a peninsula S of the Alps, and Sicily, Sardinia, Elba, and other smaller islands: a kingdom 1870 1946. 57,534,088; 116,294 sq. mi. (301,200 sq. km). Cap.: Rome. Italian, Italia. * * * Italy… …   Universalium

  • Europe, history of — Introduction       history of European peoples and cultures from prehistoric times to the present. Europe is a more ambiguous term than most geographic expressions. Its etymology is doubtful, as is the physical extent of the area it designates.… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”