Usance
Dictionary of Terms and Phrases Used in American or English Jurisprudence · Benjamin Vaughan Abbott · 1879
Dictionary of Terms and Phrases Used in American or English Jurisprudence
Signifies the period which, by commercial custom, is allowed in war rious countries for payment of foreign bills of exchange. As the usage or custom is different in different countries, it follows that the same phrase imports different periods of time, according to the country in which the bill is drawn. It sometimes means a month, sometimes two or more months, sometimes half a month. In a majority of places, a usance seems to be a month; and a half month is called a half usance, while two months form a double usance. See Wharton, for a table.