Usance

Defined in 7 dictionaries — Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910), Kinney (1893), Stimson (1881), Abbott (1879)

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

In commercial law. The time which, by usage or custom, is allowed in certain countries for the payment of a bill of exchange. Poth. Contr. du Change, note 15.

Ballentine's Law Dictionary

James A. Ballentine · 1916

The customary time allowed for the payment of bills of exchange.

Bouvier's Law Dictionary and Concise Encyclopedia

John Bouvier; revised by Francis Rawle · 1914

In Commercial Law. The time which, by usage or custom, is allowed in certain countries for the payment of a bill of exchange. Pothier, Contr. du Change, n. 15. The time of one, two, or three months after the date of the bill, according to the custom of the places between which the exchanges run. Double or treble is double or treble the usual time, and half usance is half the time. Where it is necessary to divide a month upon a half usance (which is the case when the usance is for one month or three), the division, notwithstanding the difference in the length of the months, contains fifteen days. Byles, Bills *80, *205. The practice is not now recognized.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

In mercantile law. The common period fixed by the usage or custom or habit of dealing between the country whore a bill is drawn, and that where it is payable, for the payment of bills of exchange. It means, in seme countries, a month, in others two or more mouths, and in others half a month. Story, Bills,'§§ 50, 144, 332.

A Law Dictionary and Glossary

George C. Kinney · 1893

fr. The period fixed by usage as between countries for thepayment of bills of exchange.

Glossary of Technical Terms, Phrases, and Maxims of the Common Law

Frederic Jesup Stimson · 1881

The customary time allowed, as between different conntries, for the payment of a bill of exchange, after its date.

Dictionary of Terms and Phrases Used in American or English Jurisprudence

Benjamin Vaughan Abbott · 1879

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.