Usance \Us"ance\, n. [F. See Use, v. t.]
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1. Use; usage; employment. [Obs.] --Spenser.
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2. Custom; practice; usage. [Obs.] --Gower. Chaucer.
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3. Interest paid for money; usury. [Obs.] --Shak.
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4. (Com.) The time, fixed variously by the usage between
different countries, when a bill of exchange is payable;
as, a bill drawn on London at one usance, or at double
usance.
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The Collaborative International Dictionary of English v.0.48
usance
n 1: the period of time permitted by commercial usage for the
payment of a bill of exchange (especially a foreign bill
of exchange)
2: (economics) the utilization of economic goods to satisfy
needs or in manufacturing; "the consumption of energy has
increased steadily" [syn: consumption, economic
consumption, use, use of goods and services]
3: accepted or habitual practice [syn: custom, usage]
WordNet (r) 2.0
USANCE, commercial law. The term usance comes from usage, and signifies the
time which by usage or custom is allowed in certain countries, for the
payment of a bill of exchange. Poth. Contr. du Change, n. 15.
2. The time of one, two or three mouths after the date of the bill,
according to the custom of the places between which the exchanges run.
3. Double or treble is double or treble the usual time, and half usance
is half the time. Where it is necessary to divide a month upon a half
usance, which is the case when the usance is for one month or three, the
division, notwithstanding the difference in the length of the months,
contains fifteen days.
Bouvier's Law Dictionary, Revised 6th Ed (1856)
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