Usance


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Related to Usance: Usance Letter of Credit

USANCE, commercial law. The term usance comes from usage, and signifies the time which by usage or custom is allowed in certain countries, for the payment of a bill of exchange. Poth. Contr. du Change, n. 15.
     2. The time of one, two or three mouths after the date of the bill, according to the custom of the places between which the exchanges run.
     3. 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.

References in periodicals archive ?
I would be friends with you, and have your love, Forget the shames that you have stained me with, Supply your present wants, and take no doit Of usance for my moneys; and you'll not hear me.
I hate him for he is a Christian" and because he "lends out money gratis and brings down/The rate of usance here with us in Venice" (11.
For instance, Taiwan has witnessed an annual growth of 20%-30% in usance credits since 2007 and the demand on usance credit will keep growing, particularly when the export-oriented SMEs need usance credit to conduct external trade.
I would be friends with you and have your love, Forget the shames that you have stained me with, Supply your present wants and take no doit Of usance for my moneys.
25) Usance involves repayments in kind after the exchange-use of goods such as grain and land, and is not interest in the modern sense.
As for the latter, between 1945 and 2000, the access to decision-makers was ensured by the usance that the Ministry of Social Affairs was held by representatives of the trade union federation.