BANK DRAFTS.                                              149
large city, can generally    buy, of their home      the danger of loss when sending money from
bank, drafts, thus, on the nearest metropolis, by    one part of the     country   to  another.    Such
the payment of the exchange.                         form  is worded as follows, and is known as a
The object in purchasing a draft is to avoid      bank draft.
Form of a Bank Draft.
DUPLICATE uxrAiD.
In making collections of money, drafts are                             Time Draft.
frequently used, which are usually sent through         $50.                   ME,4ms, TENN., AprIT 4,18-.
Thirty days after date, pay to the order of Cobb & Co.,
the banks. A     sight draft is used where the       Fifty dollars, value received, and charge to our account.
person upon whom      it is drawn is expected to        To HAuxoN, Mosuza & Co.,      A. B. MOO R & CO.
Buffalo, N. Y.
pay the debt immediately.      In the time draft
the same is made payable in a certain number                              Acceptance.
of days.                                            I   The acceptance of a draft is effected by the
Sight Draft.                      drawee, or the person upon whom the same is
$400.                  CINCINNATI, 0., June 10, s-.  drawn, if he consents to its payment, writing
At sight, pay to the order of Higgins & Co., Four Hu-  across the -face of the draft, thus: "Accepted,
dred dollars, value received, and charge the saine to our accouut.
To B. L SmT, Milwaukee, Wis.  POLLOK BROS. & CO.  June 12, 1873.    B. L. Smith."
DAYS     OF   GRACE.
Three Days of Grace are allowed upon Promissory Notes and Bills of Exchange in the following
States, according to laws in force, January 1, 1875:

New Hampshire,
New Jersey,
New York,
North Carolina,
Ohio,
Oregon,
Rhode Islad,

South Carolina
Texas,
Utah,
Vermont,
Virginia,
West Virginia,
Wisconsin.

NOTE.- In States not enumerated here, the Commercial Laws of the States regulate in regard to Grace, Protest and Notice.J