overdraft

overdraft
An overdrawing by a bank depositor. A payment by a bank from its funds of a check or draft drawn upon it by a depositor who does not have sufficient funds on deposit to pay the check or draft. American Surety Co. v First Nat. Bank (DC W Va) 50 F Supp 180. An overdraft arises when, by check, draft, or order, a customer of the bank draws from that bank more money than is standing to his credit in his account with the bank. State v Jackson, 21 SD 494, 113 NW 880. The amount of an overdraft is not necessarily the sum drawn, but is the amount drawn less the amount to which the drawer, at the time, is entitled to a credit balance upon his ac- count. Armstrong v Chemical Nat. Bank (CC NY) 41 F 234.

Ballentine's law dictionary. . 1998.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • overdraft — over·draft / ō vər ˌdraft/ n 1: the act or result of drawing on a bank account for more than the balance; also: the amount exceeding the balance in an overdraft 2: a loan or credit extended on a current account esp. to established or… …   Law dictionary

  • overdraft — s.n. Ordin de plata către bancă a unei operaţiuni în lipsa temporară a mijloacelor băneşti în contul clientului. Trimis de emilia, 01.11.2004. Sursa: Neoficial  OVERDRAFT s. n. (fin.) restrângere a creditelor fără acoperire. (< engl.… …   Dicționar Român

  • Overdraft — O ver*draft , n. (Banking) The act of overdrawing; a draft in excess of the credit balance; also, the amount or sum overdrawn. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • Overdraft — Overdraft. См. Скручивание листа вверх. (Источник: «Металлы и сплавы. Справочник.» Под редакцией Ю.П. Солнцева; НПО Профессионал , НПО Мир и семья ; Санкт Петербург, 2003 г.) …   Словарь металлургических терминов

  • overdraft — (n.) 1878, in the banking sense, from OVER (Cf. over) + DRAFT (Cf. draft) (n.) …   Etymology dictionary

  • overdraft — òverdraft m DEFINICIJA bank. 1. oblik bankovnog kratkoročnog kreditiranja prema ugovoru o dopuštenom prekoračenju u ugovorenom vremenu 2. svaki oblik prekoračenja ETIMOLOGIJA engl …   Hrvatski jezični portal

  • overdraft — ► NOUN ▪ a deficit in a bank account caused by drawing more money than the account holds …   English terms dictionary

  • overdraft — [ō′vər draft΄] n. 1. a) a withdrawal of money from a bank in excess of the amount credited to the drawer b) the amount withdrawn in excess 2. a draft, or current of air, passed over a fire, as in a furnace, or passing down through a kiln …   English World dictionary

  • Overdraft — I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I I withdraw my overdraft! Cartoon from Punch Magazine Vol. 152, June 27, 1917 An overdraft occurs when money is withdrawn from a bank account and the… …   Wikipedia

  • overdraft — a form of loan by which a person with a trading bank current account is given permission to continue making drawings on the account up to an agreed limit, after the balance has been reduced to nil. Glossary of Business Terms Provision of instant… …   Financial and business terms

  • overdraft — UK [ˈəʊvə(r)ˌdrɑːft] / US [ˈoʊvərˌdræft] noun [countable] Word forms overdraft : singular overdraft plural overdrafts a) an agreement with your bank that allows you to spend money when you have no money left in your account overdraft limit (= the …   English dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”