draft

(redirected from draught)
Also found in: Dictionary, Thesaurus, Medical, Financial, Idioms, Encyclopedia, Wikipedia.

Draft

A written order by the first party, called the drawer, instructing a second party, called the drawee (such as a bank), to pay money to a third party, called the payee. An order to pay a sum certain in money, signed by a drawer, payable on demand or at a definite time, to order or bearer.

A tentative, provisional, or preparatory writing out of any document (as a will, contract, lease, and so on) for purposes of discussion and correction, which is afterward to be prepared in its final form.

Compulsory Conscription of persons into military service.

Also, a small arbitrary deduction or allowance made to a merchant or importer, in the case of goods sold by weight or taxable by weight, to cover possible loss of weight in handling or from differences in scales.

A draft that is payable on demand is called a sight draft because the drawee must comply with its terms of payment when it is presented, in his or her sight or presence, by the payee. In contrast, a time draft is one that is payable only on the date specified on its face or thereafter.

A draft may be payable to a designated payee or to the bearer—the person who has possession of the draft at the time it is presented to the drawee for payment—pursuant to the drawer's directions.

A draft is sometimes synonymous with a bill of exchange, Commercial Paper, or negotiable instrument.

draft

1) n. a bill of exchange or check in which one party (including a bank) is directed by the party drafting (writing) the bill or check to take money from the drafter's (writer's) bank account and pay it to another person or entity. 2) v. to prepare and sign a bill of exchange or check. 3) n. a less than final document, which is ready for discussion, re-writing and/or editing, such as a book, a proposal, or a legislative bill. 4) n. compulsory enrollment of non-volunteers for military service by lottery, as existed under the Selective Service System during World War I, from 1940 as World War II threatened to involve the United States, through the Korean and Vietnam conflicts until 1973. Since 1980 all men are required to register at 18, but there is no draft or call-ups. (See; bill of exchange, check)

draft

noun acceptance bill, bank check, bank note, bank paper, bill, bill of exchange, cashier's check, check, commercial paper, debenture, letter of credit, lettre de change, money order, negotiable instrument, negotiable paper, note, order, order for payment, promissory note, voucher, warrant
Associated concepts: bill of exchange, check, overdraft, sight draft
See also: bill, blueprint, check, coerce, compel, compose, conceive, contrive, course, delineate, design, direction, document, enroll, formulate, frame, instrument, invent, make, nominate, note, originate, pattern, plan, program, proposal, recruit, require, select, suggestion
References in classic literature ?
As she still hesitated, being, in fact, in no reasonable state of mind, he took the infant in his arms, and himself administered the draught.
Dunstan was waiting for this, and took his ale in shorter draughts than usual.
And applying his black beard to the pitcher, he took a draught much more moderate in quantity than his encomium seemed to warrant.
Miss Wilson's candle, though it flickered in the draught, was not extinguished this time; and she was presently left with the housekeeper, bolting and chaining the door, and listening to the crunching of feet on the gravel outside dying away through the steady pattering of the rain.
As soon as the sun had climbed above our girdle of trees, it fell with all its force upon the clearing and drank up the vapours at a draught.
They found by my eating that a small quantity would not suffice me; and being a most ingenious people, they slung up, with great dexterity, one of their largest hogsheads, then rolled it towards my hand, and beat out the top; I drank it off at a draught, which I might well do, for it did not hold half a pint, and tasted like a small wine of Burgundy, but much more delicious.
Sindbad, making a sign to him to approach, caused him to be seated at his right hand, and himself heaped choice morsels upon his plate, and poured out for him a draught of excellent wine, and presently, when the banquet drew to a close, spoke to him familiarly, asking his name and occupation.
We did not give them a full draught at first, but poured in the water by drops, to moisten their mouths and throats, which were extremely swelled: by this caution they were soon well.
With this permission Sancho settled himself as comfortably as he could on his beast, and taking out of the alforjas what he had stowed away in them, he jogged along behind his master munching deliberately, and from time to time taking a pull at the bota with a relish that the thirstiest tapster in Malaga might have envied; and while he went on in this way, gulping down draught after draught, he never gave a thought to any of the promises his master had made him, nor did he rate it as hardship but rather as recreation going in quest of adventures, however dangerous they might be.
Let me but escape into my laboratory door, give me but a second or two to mix and swallow the draught that I had always standing ready; and whatever he had done, Edward Hyde would pass away like the stain of breath upon a mirror; and there in his stead, quietly at home, trimming the midnight lamp in his study, a man who could afford to laugh at suspicion, would be Henry Jekyll.
d'Avrigny himself arrived, bringing the night draught prepared for the young girl, and then M.
Put him to bed at once, and give him a cooling draught.