TeachMeFinance.com - explain Sight
Sight -- As applied to a bill of exchange (draft) this term
means that the bill is to be paid by the drawee (the one upon
whom it is drawn) on presentation to him, if grace is not allowed
by law in the state or country where the drawee resides ;
if grace is allowed by law then the bill is payable on the last
day of grace after sight after presentation to and acceptance
by the drawee. There also is usance on bills drawn in some
countries ; see Usance.
Check exchange means sight exchange ; a check or cheque (English way of spelling check) is payable on demand, or in
other words, on presentation.
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