sight draft

noun

An Americanism dating back to 1840–50

We are prepared to honor a sight-draft with the Bonds attached, or to pay cash on presentation and transfer.

If it is a sight draft—that is, a draft payable when A sees it—he may give cash for it at once and take the draft as his receipt.

I will most gladly draw a sight draft to-morrow, and pay your expenses back to that city, if you will only accept my offer.

The former is known as a time draft, while the latter is a sight draft.

What is the proper entry when a customer pays our sight draft?

April 18, 2024petrichor

[pet-ri-kawr]

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