Dating

This is a term applied to a method of extending credit beyond the period for which it ostensibly is granted. For example, if a buyer of goods is to receive credit for 30 days and is allowed a 30-day dating the period of credit (30 days) does not begin and the bill for the goods is not dated until 30 days after the purchase (or after the shipment of the goods if shipment is not made at the time of the purchase). ‘Thus, a credit of 60 days is actually granted. a = “ SS 5 Days of grace. The days, usually three, allowed in some states for payment of a note or bill of exchange after it becomes due as expre ed in the obligation itself. For additional information see Grace. Day-to-day accommodation. English term for a loan renewable from day to day. Day-to-day loan. English term for a loan renewable from day to day. Day-to-day money. English term for a loan of money renewable from day to day. Known as call money in the United States, that is, money returnable on the demand or call of the lender. Day-to-day option. London Stock Exchange name for an option which continues for only one day. The corresponding term on the New York Stock Exchange is over-night. 156