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FREIGHT, sum paid for the transporta- MORTGAGEE, one to whom a mortgage tion of goods; the cargo of a vessel. is given.

GRACE, days of, time allowed by law MONEY, circulating medium.

for the payment of a bill after the NET PROCEEDS, the balance after all exdate on which it falls due; in the penses are paid, gain upon the whole. United States, it is usually 3 days. NET WEIGHT, remainder after all deGUARANTEE, a pledge to fulfil. ductions are made. HONORED, drafts are said to be honor

ed, when they are accepted or paid. HEREDITAMENTS, things which may be inherited.

IMPORTATION, act of bringing goods into a country.

INDEMNITY, security against loss.

NOTARY PUBLIC, an officer appointed to attest deeds and other writings, and before whom bills are protested for non-payment.

NOTE, a written instrument which acknowledges a debt, and promises payment.

INDEFEASIBLE, not to be diverted or OBLIGATION, indebtedness, an act which

defeated.

INDORSE, &c. (See Endorse.)
INDENTURE, written instrument.
INFANT, a person under twenty-one
years of age.

INSTALMENTS, sums to be paid at cer-
tain times.

INSURANCE, security against losses. INTESTATE, one who dies without leaving a will.

INVESTMENT, disposition of money. JOINTLY, in company with others, not singly.

JUDGMENT, decree of a competent

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LEDGER, a book which exhibits a sum-
mary of one's business.
LET, prevention, hindrance.

LETTER OF CREDIT, one which entitles
a person to receive funds on the cre-
dit of another.

LICENSE, a privilege to carry on a cer-
tain business.

LIABILITIES, debts of an individual, and
also notes or other claims against
him.
LIQUIDATION, adjustment and payment|
of debts.

MANIFEST, an invoice of a ship's cargo.
MATURITY, the time when a bill falls
due.

MERCHANDISE, articles of trade, goods.
MINT, a place for coining money.
MORTGAGOR, One who gives a mort-
gage.

binds a person to some performance. OBLIGEE, the person to whom another is bound.

OBLIGOR, the individual bound.
OFFICE, a place for the transaction of
business.

ORDER, a written request to pay or de-
liver something.

PACKAGE, a bundle of goods.
PAR OF EXCHANGE, denotes the legal
value of money in one country, ex-
pressed in the currency of another.
The old par value of a pound ster-
liug was $4.444', but under the new
par, the value of a pound sterling is
fixed at $4.84': when, therefore, ex-
change on England is said to be at
9 per cent. premium on the old ba-
sis, it is only at par on the new, thus
$4.44'x1.09 $4.84'. Exchange on
England is therefore above or below
par as it rates above or below the
nominal premium of 9 per cent.
PARTITION, division.

PARTNERSHIP, (See Co-Partnership).
PAROLE, word of promise.
PAYEE, one to whom money is payable.
POLICY, an instrument or writing given
by insurers, to make good the thing
insured.

PREMIUM, sum paid for insurance, sums
allowed on the payment of bills, the
per cent. above par.
PRICE CURRENT, market price.
PRO FORMA, a document (an imaginary

Account Sales) sent to absent parties, designed to give information in reference to the prices, charges, commission, &c., on some particular commodity.

POSTING, entering accounts in the SHIPMENT, adventure, (p. 61).

Ledger.

PROMISSORY NOTE, one which promises the payment of something.

SIGHT, or at sight, signifies that a bill is to be paid when presented. SOLVENT, able to pay all debts.

PROTEST, a writing which declares a STAPLES, the chief produce of a coun

certain bill was not paid when it fell due.

QUARANTINE, a period of time, variable

try.

STOCK, capital invested in trade, a name which represents the person in business.

in length, during which, a ship or vessel supposed to be infected with SUNDRIES, more than one. certain diseases, is not allowed to SURETY, security, one bound for the communicate freely with the shore. payment of another's debts. RECEIPT, a written acknowledgment TARE, allowance for weight of boxes, for having received something. bags, &c.

REGISTRY, the act of entering upon re- TELLER, one employed to receive and cord. pay money. REMITTANCE, bills or money sent from TENANT, the person who occupies the one house to another. property of another. RENEWED, payment of a bill prolonged. TENEMENTS, things which may be held. RESOURCES, property, money, stocks, &c. TITLE, right of possession. SCHEDULE, a statement of any business TONNAGE, the capacity of a vessel for affair carrying goods; her burthen. SEIZE, to take possession of by autho- TRUSTEE, one entrusted with property rity. for the benefit of others. SIGNATURE, the name of a person in his UNDERWRITERS, persons who insure own hand-writing. SILENT PARTNER, p. 161,

property against loss. USURY, illegal interest. VICE VERSA, the reverse. VOUCHER, a document which serves as evidence.

SET OF EXCHANGE, three bills of the same tenor and date, (p. 101) forwarded by different conveyances, to prevent failure, when one is paid, WHARFAGE, charges for the use of the others are void.

wharf

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