Exchange

BILL OF. See "Bill of Exchange." A department of the government which has the management of the collection of the king's revenue. The name is said to be derived from the chequered cloth which covered the table on which some of the king's accounts were made up, and the amounts indicated by counters. It consists of two divisions, one for_ the receipt of revenue, the other for administering justice. 4 Inst. 103-116; 3 Bl. Comm. 44, 45. See "Court of Exchequer"; "Court of Exchequer Chamber."

BILLS OF. See Bills of Exchange. EXCHEQUER (Law Lat. tcaCCQ ri urn; Nor. Fr. eschequier). In English Law. A department of the government which has the management of the collection of the king's revenue. The name is said to be derived from the chequered cloth which covered the table on which some of the king's account* were made up and the amounts indicated by counters. It consisted of two divisions, one for the receipt of revenue, the other for administering justice. Co. 4th Inst 103;."• Bla. Com. 44, 45. See Court of EXCHEQUER; Court ok Exchequer Chamber.

comm. law. This word has several significations. 1. Exchange is a negociation by which one person transfers to another, funds which he has in a certain place, either at a price agreed upon, or which is fixed by commercial usage. This transfer is made by sents such funds, and is well known by the name of bill of exchange. 2. The price which is paid in order to obtain such transfer, is also known among merchants by the name of exchange; as, exchange on England is five per cent. 3. Barter, (q. v.) or the transfer of goods and chattels for other goods and chattels, is also known by the name of exchange, though the term barter is more commonly used. Vide the articles Bills of Exchange; Damages on Bills of Exchange, and Re-exchange. Also Civ. Code of Lo. art. 2630.