Re-Exchange
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
The expense incurred by a bill's being dishonored in a foreign country, where it is made payable and returned to that country in which it was made or indorsed, and there taken up.
11 East, 265; 2 Campb. 65.
It is the sum for which a sight bill must be drawn at the time and place of dishonor at the then rate of exchange on the place where the drawer or indorser sought to be charged resides, in order to realize, at the place of dishonor, the amount of the dishonored bill, and the expenses consequent on its dishonor.
2 Daniell, Neg. Inst. § 1445.
See "Redraft."
See Redraft.