Draft Legal Meaning and Definition
Here is a simplified definition of the legal term Draft.
Draft can be used both as a noun and a verb with different but related meanings in legal context.
- Draft (noun): A written order that instructs a bank to deduct certain amount from one's account and transfer it to another account or person. It is similar to a check or a bill of exchange.
Example: "He issued a draft to pay the invoice."
- Draft (verb): The act of composing and writing a check or a bill of exchange that orders the payment of money from one account to another.
Example: "She drafted a check to pay the rent."
- Draft (noun): A preliminary version of a document, such as a bill, proposal, or legislative act, which is prepared for discussion, editing, and revision.
Example: "The committee reviewed the draft of the proposal."
- Draft (noun): A system where individuals are selected for compulsory military service. This system was notably used during World War I and until 1973. Currently, all men in the U.S. are required to register for potential service at 18, but no draft has been implemented since 1980.
Example: "He was selected during the draft for military service."