FIRST OF EXCHANGE

By SovConn | January 24, 2016

first of exchange.Archaic. The first in a series of drafts (bills of exchange) drawn in duplicate

or triplicate for safety in their delivery, the intention being that the acceptance and payment of any

one of them, usu. the first to arrive, cancels the others in the set.[Blacks Law 8th]

Posted in Law Dictionary Definitions