Par Of Exchange in United States
Par Of Exchange Definition
The par of the currencies of any two countries means the equivalence of a certain amount of the currency of the one in the currency of the other, supposing the currency of both to be of the precise weight, and purity iixed by their respective mints. 26 Wend. (N. Y.) 224. The exchange between the two countries is said to be at par when bills are negotiated on this footing, i. e., when a bill for £100 drawn on London sells in Paris for 2,520 frs., and vice versa. Bowen, Pol. Econ. 321. See 11 East, 267.
Par Of Exchange in Foreign Legal Encyclopedias
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| Par Of Exchange | Par Of Exchange in the Asian Legal Encyclopedia. |
| Par Of Exchange | Par Of Exchange in the UK Legal Encyclopedia. |
| Par Of Exchange | Par Of Exchange in the Australian Legal Encyclopedia. |
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Legal Issue for Attorneys
The par of the currencies of any two countries means the equivalence of a certain amount of the currency of the one in the currency of the other, supposing the currency of both to be of the precise weight, and purity iixed by their respective mints. 26 Wend. (N. Y.) 224. The exchange between the two countries is said to be at par when bills are negotiated on this footing, i. e., when a bill for £100 drawn on London sells in Paris for 2,520 frs., and vice versa. Bowen, Pol. Econ. 321. See 11 East, 267.
Notice
This definition of Par Of Exchange is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.