Draft Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Draft, written in plain English, along with examples of how it is used.
What is Draft?
1\) n. A bill of exchange or check which directs one party to take money from the drafter’s bank account and pay it to another entity or person. 2) v. To sign and prepare a check or bill of exchange. 3) n. A document which is not final and set for discussion, rewriting and/or editing. For example: a blood, a proposal, or a legislative bill. 4) n. Unavoidable enrollment into military service by lottery of non-volunteers. This existed during World War I under the Selective Service System as World War II threatened to involve the United States. from 1940 until 1973. All men have been required to register at 18 since 1980, but there have not been any drafts or call-ups.
History and Meaning of Draft
The term "Draft" has multiple different meanings depending on the context of its usage. In the legal sense, a draft refers to a bill of exchange or check that orders one party to transfer money from the drafter's bank account to another individual, organization or entity. The term "Draft" can also be used to refer to documents that are not in their final form and are open to discussion, editing or rewriting. In addition, the term can be used to refer to the process of preparing a check or a bill of exchange through the act of signing it.
One of the most well-known usages of "Draft" is in its reference to the practice of involuntary military service by forcing men to serve in the army. This was done through a lottery system where those who were chosen had no choice but to serve in the military, which was in place from 1940 to 1973.
Examples of Draft
- The lawyer created a draft of the contract to send to the other party for review.
- John was drafted into the army during the Vietnam War.
- The company prepared a draft of the proposal before sending it for approval.
- The bank drafted the check for the client to sign.
Legal Terms Similar to Draft
- Bill of exchange: Refers to a written order that instructs a party to pay a specified sum of money to a different party at a future date or upon certain conditions.
- Promissory note: A written agreement containing an unconditional promise to pay a certain sum of money to a specified individual, organization or entity at a set date or upon certain conditions.
- Check: A written order directing a bank or another financial institution to pay a certain sum of money from the account belonging to the person who wrote the check, to the individual or organization named on the check.