First Of Exchange

Black’s 4th Pg 763

FIRST OF EXCHANGE. Where a set of bills of
exchange is drawn in duplicate or triplicate, for
greater safety in their transmission, all being of
the same tenor, and the intention being that the
exceptance [sic*] and payment of any one of them
(the first to arrive safely) shall cancel the others
of the set, they are called individually the “first of
exchange,” “second of exchange,” etc. See Bank
of Pittsburgh v. Neal, 22 How. 96, 110, 16 L.Ed.
323.

  • * I think Hank mad a mistake here. I conferred with Noah & we agree …  “acceptance”
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