Definition of DRAFT in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DRAFT
The common term for a bill of exchange; as being drawn by one person on another. Hinnemann v. Rosenback, 39 N.Y. 100; Ennis v. Coshocton Nat. Bank, 27 Ga.App. 479, 108 S.E. 811.
An order for the payment of money drawn by one person on another. It is said to be a nomen generalissimum, and to include all such orders. Wilson v. Buchenau, D.C.Cal., 43 F.Supp. 272, 275.
The term includes a cashier's check, People v. Miller, 278 Ill. 490, 116 N.E. 131, 138 L.R.A.1917E, 797; Advance-Rumely Thresher Co. v. Hess, 85 Mont. 293, 279 P. 236, 237; but a draft is distinguishable from a cashier's check in, that a draft is a bill of exchange payable on demand purporting to be drawn on deposit while a cashier's check is a primary obligation of a bank which issues it and constitutes its written promise to pay it on demand. In re Bank of U. S., 277 N.Y.S. 96, 243 App.Div. 287. It is distinguished from "check" by the fact that in a draft the drawer is a bank, while in the ordinary check the drawer is an individual. Leach v. Mechanics' Say. Bank, 202 Iowa, 899, 211 N.W. 506, 508, 50 A.L.R. 388.
A tentative, provisional, or preparatory writing out of any document (as a will, contract, lease, etc.) for purposes of discussion and correction, which is afterwards to be copied out in its final shape.
Also, a small arbitrary deduction or allowance made to a merchant or importer, in the case of goods sold by weight or taxable by weight, to cover possible loss of weight in handling or from differences in scales. Marriott v. Brune, 9 How. 633, 13 L.Ed. 282; Seeberger v. Mfg. Co., 15 S. Ct. 583, 157 U.S. 183, 39 L.Ed. 665; Napier v. Barney, 17 Fed.Cas. 1149.
A draft in stockyard parlance is all those animals in one consignment weighed as a single sales or purchase classification. Acker v. U. S., D. C.Ill., 12 F.Supp. 776, 780.
---
That's the definition of DRAFT in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
