Dictionary
Dictionary
Exchange — definition & meaning
Word Type Definition Exchange n. The process of setting accounts or debts between parties
residing at a distance from each other, without the intervention of
money, by exchanging orders or drafts, called bills of exchange. These
may be drawn in one country and payable in another, in which case they
are called foreign bills; or they may be drawn and made payable in the
same country, in which case they are called inland bills. The term bill
of exchange is often abbreviated into exchange; as, to buy or sell
exchange.
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