Bill

Business, Legal & Accounting Glossary

Definition: Bill


Bill

Quick Summary of Bill


A statute in draft before it becomes law




What is the dictionary definition of Bill?

Dictionary Definition


  1. what is commonly called a “check” by which the signer requires the bank to pay a third party a sum of money. This is a holdover from the days when a person would draw up a “bill of exchange.”
  2. a statement of what is owed.
  3. any paper money.
  4. a legislative proposal for enactment of a law. It is called a bill until it is passed and signed, at which time it is a law (statute) and is no longer referred to as a bill.
  5. an old-fashioned term for various filed documents in lawsuits or criminal prosecutions, which is falling into disuse.

Full Definition of Bill


  1. A negotiable debt obligation issued by the U.S. government and backed by its full faith and credit, having a maturity of one year or less. Exempt from state and local taxes. also called T-Bill or U.S. Treasury Bill or Treasury Bill.
  2. Paper currency.
  3. An invoice of charges for products and services.

In Law, a Bill is a proposed new piece of legislation that will, if it is accepted by Parliament, become a Statute (see: Legislative process). Most Bills are introduced by Government ministers, and these occupy the largest proportion of Parliamentary time. However, sometimes a Private bill or a Private member’s bill can succeed and become law. Government Bills are usually introduced into Parliament in the form that the Government wishes to see enacted; they are therefore carefully drafted, usually after a period of consultation (see: Formulation of bills).


Synonyms For Bill


T-Bill
U.S. Treasury Bill
Treasury Bill.


Cite Term


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Page URL
https://payrollheaven.com/define/bill/
Modern Language Association (MLA):
Bill. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 06, 2022 https://payrollheaven.com/define/bill/.
Chicago Manual of Style (CMS):
Bill. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/bill/ (accessed: December 06, 2022).
American Psychological Association (APA):
Bill. PayrollHeaven.com. Retrieved December 06, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/bill/

Definition Sources


Definitions for Bill are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 21st November, 2021 | 0 Views.