presentment for payment

presentment for payment
The method by which it is determined whether a person primarily liable on an instrument will pay or whether it will be necessary to resort for payment to persons secondarily liable. A demand for payment; a personal or face-to-face demand accompanied by a readiness to make actual presentment or exhibition of the instrument and its surrender upon payment. 11 Am J2d B & N § 738.

Ballentine's law dictionary. . 1998.

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  • presentment of bill of exchange — See presentment for acceptance; presentment for payment …   Ballentine's law dictionary

  • presentment — pre·sent·ment /pri zent mənt/ n 1: the act of presenting to an authority a formal statement of a matter to be dealt with; specif: the notice or accusation of an offense by a grand jury on the initiative of the jury members or on the basis of… …   Law dictionary

  • Presentment — Pre*sent ment, n. 1. The act of presenting, or the state of being presented; presentation. Upon the heels of my presentment. Shak. [1913 Webster] 2. Setting forth to view; delineation; appearance; representation; exhibition. [1913 Webster] Power… …   The Collaborative International Dictionary of English

  • Presentment of a bill of exchange — Presentment Pre*sent ment, n. 1. The act of presenting, or the state of being presented; presentation. Upon the heels of my presentment. Shak. [1913 Webster] 2. Setting forth to view; delineation; appearance; representation; exhibition. [1913… …   The Collaborative International Dictionary of English

  • presentment — The written notice taken by a grand jury of any offense, from their own knowledge or observation, without any bill of indictment laid before them at the suit of the government. A presentment is an accusation, initiated by the grand jury itself,… …   Black's law dictionary

  • presentment — A process by which a check is presented for payment at the drawee s bank. American Banker Glossary …   Financial and business terms

  • presentment — [prē zent′mənt, prizent′mənt] n. [ME < OFr presentement < presenter: see PRESENT, vt.] the act of presenting; presentation; specif., a) an exhibition; thing presented to view b) Commerce the producing of a note, bill of exchange, etc. for… …   English World dictionary

  • presentment — noun Date: 14th century 1. the act of presenting to an authority a formal statement of a matter to be dealt with; specifically the notice taken or statement made by a grand jury of an offense from their own knowledge without a bill of indictment… …   New Collegiate Dictionary

  • presentment — /pri zent meuhnt/, n. 1. an act of presenting, esp. to the mind, as an idea, view, etc. 2. the state of being presented. 3. a presentation. 4. the manner or mode in which something is presented. 5. a representation, picture, or likeness. 6. Com.… …   Universalium

  • presentment — pre•sent•ment [[t]prɪˈzɛnt mənt[/t]] n. 1) an act of presenting, esp. to the mind, as an idea, view, etc 2) the state of being presented 3) a presentation 4) the manner or mode in which something is presented 5) a representation, picture, or… …   From formal English to slang

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