Acceptance Enables Seller To Assist Customers By Extension Of Credit Without Obligation On Former

Modern day transactions are based entirely upon credit. It has been estimated that ninety per cent, of the country's business is done upon a credit business, that is, by the giving of something having a present value for a promise of payment in the future. The seller is restricted through his limited capital to grant any too great an amount of credit to any one class of buyers. Neither does the seller wish to forego the opportunities of materializing on possible sales.

Furthermore, the buyer is equally anxious to do business with the seller, if he can procure the merchandise on a credit basis. The acceptance, therefore, provides a means whereby the buyer may take advantage of a bargain to the equal advantage of the seller-a process which can be carried out only with the cooperation of the banker, who has at his command the available funds which may be used for this purpose.

The above described advantages accruing to the seller from the employment of the acceptance would alone be worthy of the time and attention of business men. Not only in the above way is the acceptance of value, for the benefits which may flow from its continued use are even more extensive and numerous than those mentioned above.