. Exact purpose and intent of a bill of exchange as judged from the words and figures used in its construction.

2. Length of time, stated in the bill, that must elapse before a bill of exchange become due for payment.

3. Designation of the payment terms of a bill of exchange, such as ‘Due when presented’ (a sight draft) or ‘Due on date …’ (a time draft). Not to be confused with tenure.

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