Practical book-keeping, commercial reference, and counting-house & school assistant

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Page 16 - ... back. The person who draws a bill is called the drawer ; the person on whom it is drawn is called the drawee : after the bill is accepted the drawee is called the accepter. The person who indorses a bill is called the indorser ; the person to whom it is indorsed is the indorsee. The person who pays a bill is the payer ; the person to whom it is paid is the payee. These and similar terms may be illustrated by a circumstance 'said to have occurred on the cross-examination of a witness, on a trial...
Page 17 - Henry Plana,' presented to Henry H. Sultzberger, at Liverpool, for acceptance a bill of exchange in the Spanish language, of which the following is a translation : " No. 771, Lima, 12th of May, 1864. " For 400/. " At sixty days' sight please pay by this first of exchange (second and third not being paid), to the order of Mr. Carlos Raffo, the sum of four hundred pounds sterling, value received, which, place to account according to advice of " Canevaro & Co. To Mr. HH Sultzberger, Liverpool...
Page 15 - Months after date pay to my order the sum of Two hundred and fourteen pounds ten shillings and sixpence, for value received. E. SMITH. To Messrs. ALBEMARLE & Co.,
Page 15 - A bill of exchange is a written order from one person to another, directing him to pay a sum of money either to the drawer or to a third person at a future time. This is usually a certain number of days, weeks, or months, either after the date of the bill, or after sight; that is, after the person on whom it is drawn shall have seen it, and shall have written on the bill his willingness to pay it. The party expresses this willingness by writing on the bill the word " accepted
Page 34 - London ; and when, on the other hand, 100 will not suffice to buy a bill for fs.2520, the exchange is against London and in favour of Paris. The course of exchange — is the current price between two places, which is always fluctuating, being sometimes above and sometimes below par, according to the circumstances of trade, and the consequent debt due to or from one country, from or to the other.
Page 113 - In comparing the ledger, observe the following directions. Begin with the first journal post, and turn to the folio of the ledger where the Dr. is entered, which you are directed to by the marginal reference, and compare the date, entry, and sum. If they correspond, it is well ; if not, the ledger must be altered till it correspond with the journal.
Page 32 - LADING, or INVOICE. A deed signed by the master of a ship, by which he acknowledges the receipt of the merchant's goods, and obliges himself to deliver them at the place to which they are consigned. BILL OF PARCELS.
Page 15 - ... be drawn for .200, but accepted only for .150. In all cases of conditional or partial acceptance, it is the duty of the Holder, if he wish to preserve his recourse against the Drawer and Indorsers, to give notice to them of such partial or conditional acceptance. When a Bill is made payable at a certain time after sight, the Holder must get the Acceptor to note upon it the day when it was presented for his acceptance. Notice of the dishonouring of a bill, by non-payment, or non-acceptance,...
Page 16 - The party endorsing a Bill, is called the Endorser; the party to whom it is endorsed, is the Endorsee. The person paying a Bill, is the Payer; the person to whom it is paid is called the Payee.

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