The universal cambist, and commercial instructor, Volume 1

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Page 275 - ... it is a rule not to go, in the computation, into a third month. Thus, if a bill be dated the 28th, 29th, 30th, or 31st of January, and payable one month after date, the term equally expires on the last day of February, to which the days of grace must, of course, be added ; and, therefore the bill becomes due on the 3d of March.
Page 279 - They are denominated the first, second, and 20* third of exchange ; and, when any one of them is paid, the rest become void and of no value. When the acceptor of a bill becomes insolvent, or absconds before the term of payment is expired, the holder may cause a notary to demand better security, and, on...
Page 279 - It is customary, as a precaution against accidents or miscarriage, to draw three copies of a foreign bill, and to send them by different posts. They are denominated the first, second, and third of exchange; and when any one of them is paid, the rest become void and of no value. When the acceptor of a bill becomes insolvent, or absconds before the term of payment is expired, the holder may cause a notary to demand better security, and, on that being refused, to protest the bill for want of it. In...
Page 278 - PROTESTING BILLS. When acceptance or payment has been refused, the holder of the bill should give regular and immediate notice to all the parties to whom he intends to resort for payment; and if, on account of unnecessary delay, a loss should be incurred by the failure of any of the parties, the holder must bear the loss.
Page 121 - The Nawab's rupees, however, were soon found to contain 10, 12, and even 15 per cent, of alloy ; in consequence of which, the Bombay rupees were melted down and re-coined at Surat ; the coinage of silver in the Bombay mint was suspended for twenty years, and the Suratfs alone •were seen in circulation.
Page 263 - Draft is a deduction from the original or gross weight of goods, and is subtracted before the tare is taken off. Tare is an allowance for the weight of the bag, box, cask, or other package, in which goods are weighed. Real, or open tare, is the actual weight of the package.
Page 279 - The damages incurred by non-acceptance and non-payment, besides interest, consist usually of the exchange, reexchange, commission, and postage, together with the expenses of protest and interest. The exchange is reckoned according to the course at sight, from the place where the protest is made to the place where the bill is to be paid by the drawer ; and if it be not paid there, the re-exchange is then reckoned from the same place to that where the bill is paid, and also double commission. The interest...
Page 278 - The protest on a foreign bill should be made in time to be sent off on the next post day to the place where it was drawn or negotiated ; and if it be for non-payment, the bill must be sent with the protest. As to inland bills, a protest is not absolutely necessary to entitle the holder to recover the amount of the bill from the drawer or indorsee : it is sufficient that he give notice, by letter or otherwise, that acceptance or payment has been refused, and that he does not mean to give credit to...
Page 263 - ... goods, and is subtracted before the tare is taken off. Tare is an allowance for the weight of the bag, box, cask, or other package, in which goods are weighed. Real, or open tare, is the actual weight of the package. Customary tare is, as its name implies, an established allowance for the weight of the package. Computed tare is an estimated allowance agreed upon at the time. Average tare is when a few packages only among several are weighed, their mean or average taken, and the rest tared accordingly....
Page xix - ... the common currency in the 10th century. But there were no copper coins in England until 1665. Before that time, the silver penny f was the smallest coin. This was * Storch, Liv. V. Chap. II. t This originally contained a pennyweight of silver, or more than thrice as much as it would now contain. minted with a deep cross. When it was broken into two parts, each was called a halfpenny ; and when into four, each part was called a fourthing, or farthing.* By way, however, of making some approach...

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