Sight

As applied to a bill of exchange (draft) this term means that the bill is to be paid by the drawee (the one upon whom it is drawn) on presentation to him, if grace is not allowed by law in the state or country where the drawee resides; if grace is allowed by law then the bill is payable on the last: day of grace after sight—after presentation to and acceptance by the drawee. There also is usance on bills drawn in some countries; see Usance.