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FINDLAW LEGAL DICTIONARY

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Overdraft

overdraft n

1 : the act or result of drawing on a bank account for more than the balance
;also
: the amount exceeding the balance in an overdraft
2 : a loan or credit extended on a current account esp. to established or institutional customers



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.