draft

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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 periodicals archive ?
Deserters already faced increased scrutiny with their military status, and lacked what many draft dodgers had by way of college education and professional skills.
Meanwhile, 8 draft dodgers who have been involved in the current events turned themselves in and handed weaponsto authorities in Jab'aden in Damascus Countryside.
The panel is divided over a proposed clause, backed by the centrist Yesh Atid party but opposed by Defense Minister Moshe Yaalon of Netanyahu's right-wing Likud, that would impose financial penalties on draft dodgers.
However, eventually, Mofaz and his Kadima Party demanded a more stringent military draft, with less time for deferrals and heavy fines for draft dodgers, while Netanyahu favored a plan more deferential to ultra-orthodox political parties in his coalition, who resist the change.
Fittingly, it ends with President Carter's blanket pardon of the war's draft dodgers in 1977.
North Sinai Governor Abdel Wahab Mabrouk said that they are terminating the files of 300 cases of draft dodgers and ending 31 criminal court rulings and 139 rulings in absentia.
Yes, we do have provocateurs and draft dodgers, and it is even strange that we have so few of them under current conditions.
16) that the genius of capitalism has created a lucrative, growing business in reply: paid assistance for draft dodgers.
How to avoid being conned by the cruel bank draft dodgers
About 50,000 draft dodgers moved to Canada so they wouldn't have to fight.
To add insult to injury, numerous draft dodgers, in later years criticised and virtually harassed some ex-servicemen who took some time to resettle into civilian life.