BIMETALLISM

bimetallism. A monetary system in which currency is defined in terms of two metals (usu. gold and silver), both being legal tender and with a fixed rate of exchange between them. • The American money system was based on a bimetallic standard from 1792 to 1873. BIND bind,vb.1. To impose one or more legal duties…

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BILL TAKEN PRO CONFESSO

bill taken pro confesso (proh k<<schwa>>n-fes-oh). [Latin “as if admitted”] Hist. An order issued by a court of equity when a defendant fails to file an answer.[Blacks Law 8th]

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BILL OF SIGHT

bill of sight.Maritime law. A declaration made to a customs officer by an importer who is unsure about what is being shipped. • The bill of sight allows an importer to inspect the goods before paying duties.[Blacks Law 8th]

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BILL STATUS

bill status.The current state of a proposed law in the legislative process, such as its assignment to a committee, its schedule for a hearing or a vote, and its passage or defeat by one or both houses.[Blacks Law 8th]

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BILLS IN A SET

bills in a set.A bill of lading made up of a series of independent parts, each bearing a number and providing that goods delivered against any one part voids the other parts. • Traditionally, in overseas-goods shipments, the parts of this type of bill were sent under separate cover so that if one was lost,…

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