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Overdraft

OVERDRAFT

A check that is drawn on an account containing less money than the amount stated on the check.

The term overdraft is also used in reference to the condition that exists when vouchers or purchase orders are drawn in amounts exceeding the amount that has been appropriated or budgeted.

cross-references

Commercial Paper.

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"Overdraft." West's Encyclopedia of American Law. . Encyclopedia.com. 19 Oct. 2017 <http://www.encyclopedia.com>.

"Overdraft." West's Encyclopedia of American Law. . Encyclopedia.com. (October 19, 2017). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/overdraft

"Overdraft." West's Encyclopedia of American Law. . Retrieved October 19, 2017 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/overdraft

overdraft

o·ver·draft / ˈōvərˌdraft/ • n. a deficit in a bank account caused by drawing more money than the account holds.

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"overdraft." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 19 Oct. 2017 <http://www.encyclopedia.com>.

"overdraft." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (October 19, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/overdraft

"overdraft." The Oxford Pocket Dictionary of Current English. . Retrieved October 19, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/overdraft