foreign bill

(redirected from foreign draft)
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foreign bill

any bill of exchange other than an inland bill (that is, a bill that is both drawn and payable in the British Isles or one that is drawn in the British Isles upon someone resident there). Unless the contrary appears on its face, the holder may treat a bill as an inland bill. The distinction is relevant to the steps to be taken when a bill has been dishonoured.
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