See Also: DISCOUNT, practice(law)
discount(2)(dictionary)
Discount(money)
Discount(finance)
discount(1)(dictionary)
Discount payment(money)
Discount period(money)
Discount rate(finance)
Discount yield(money)
Accrued discount(finance)

DISCOUNT, practice (law)


DISCOUNT, practice. A set off, or defalcation in an action. Vin. Ab. h.t. DISCOUNT, contracts. An allowance made upon prompt payment in the purchase DISCOUNT, contracts. An allowance made upon prompt payment in the purchase of goods; it is also the interest allowed in advancing money upon bills of of goods; it is also the interest allowed in advancing money upon bills of exchange, or other negotiable securities due at a future time And to exchange, or other negotiable securities due at a future time And to discount, signifies the act of buying a bill of exchange, or promissory note discount, signifies the act of buying a bill of exchange, or promissory note for a less sum than that which upon its face, is payable. for a less sum than that which upon its face, is payable. 2. Among merchants, the term used when a bill of exchange is 2. Among merchants, the term used when a bill of exchange is transferred, is, that the bill is sold, and not that it is discounted. See transferred, is, that the bill is sold, and not that it is discounted. See Poth. De l' Usure, n. 128 3 Pet. R. 40. Poth. De l' Usure, n. 128 3 Pet. R. 40.