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What (who) is usance - definition
USING GOODS TO SATISFY NEEDS
usance
['ju:z(?)ns]
¦ noun archaic
1. usage.
2. the time allowed for the payment of foreign bills of exchange.
Origin
ME: from OFr., from the base of user 'to use'.
Usance
·vt Use; usage; employment.
II. Usance ·vt Custom; practice; usage.
III. Usance ·vt Interest paid for money; usury.
IV. Usance ·vt The time, fixed variously by the usage between different countries, when a bill of exchange is payable; as, a bill drawn on London at one usance, or at double usance.
Usance
Usance refers to the utilization of economic goods to satisfy needs. In manufacturing, "usance" means "inputs.
Wikipedia
Usance
Usance refers to the utilization of economic goods to satisfy needs. In manufacturing, "usance" means "inputs." It is used in "usance bills." This terminology is used in banks in India, when dealing with forex.
In medieval banking, "usance" denoted the period of time, set by custom, before a bill of exchange could be redeemed at its destination.
