inland bill

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A bill of exchange that is (or on the face of it purports to be) both drawn and payable within the British Islands or drawn within the British Islands upon some person resident there. All other bills are foreign bills. Unless the contrary appears on the face of a bill, the holder may treat it as an inland bill. The distinction is relevant to the steps taken when a bill has been dishonoured (see dishonour).

Subjects: Law.

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