In constitutional law. A bill or promissory note issued by the government of a state or nation, upon its faith and credit, designed to circulate in the community as money, and redeemable at a future day. Briscoe v. Bank of Kentucky, 11 Pet. 271, 9 L. Ed. 709; Craig v. Missouri, 4 Pet. 431, 7 L. Ed. 903; Hale v. Huston, 44 Ala. 138, 4 Am. Rep. 124. In mercantile law. A license or authority given in writing from one person to another, very common among merchants, bankers, and those who travel, empowering a person to receive or take up money of their correspondents abroad.
What is BILL OF CREDIT?
Featuring Black’s Law Dictionary
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