first of exchange

first of exchange. Archaic. The first in a series of drafts (bills of exchange) drawn in duplicate or triplicate for safety in their delivery, the intention being that the acceptance and payment of any one of them, usu. the first to arrive, cancels the others in the set.

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词条贡献者

法律翻译Jenna，欧洲顶尖商学院国际经济法专业，专注翻译各类与投资基金和私募股权有关的法律文件。