trade acceptance

noun

: a time draft or bill of exchange for the amount of a specific purchase drawn by the seller on the buyer, bearing the buyer's acceptance, and often noting the place of payment (such as a bank)

Word History

First Known Use

1916, in the meaning defined above

Legal Definition

trade acceptance

noun

: a time draft or bill of exchange for the amount of a specific purchase drawn by the seller on the buyer, bearing the buyer's acceptance, and often noting the place of payment (as a bank)