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

译者晓琳，法学硕士（国际争议解决方向），擅长翻译各种与复杂跨境争议相关的法律文件。