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Sight Draft

   Also found in: Dictionary/thesaurus, Legal, Acronyms 0.01 sec.
Sight draft
Demand for immediate payment.
Sight Draft
A check or other draft that is payable to the payee when the payee presents the draft to the appropriate party. It contrasts with a time draft, which is not payable until a stated date in the future.
sight draft
A draft that is payable on demand. Compare time draft.
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Time draft is a demand for payment on a specified future date--comprising banker's acceptance, bill and sight draft.
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He said checks were never released to sellers prior to Arkansas Auto's receipt and deposit of a buyer's check or sight draft.
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To accept an offer, the owner signs the deed before a notary, endorses the sight draft and mails both documents to the purchaser.
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