Loading...

American Dictionary of the English Language

Dictionary Search

Usance


U'SANCE, noun s as z.

1. Use; proper employment.

2. Usury; interest paid for money.

3. In commerce, a determinate time fixed for the payment of bills of exchange, reckoned either from the day of their date, or the day of their acceptance. It is thus called because this time is settled by usage, or the custom of places on which the bills are drawn. In France, the usance for bills drawn from Spain and Portugal, is sixty days. At London, the usance for bills drawn from Holland, Germany or France is one month. The usance is very different in different countries and cities.