Definition

Limit

Limit is a documentary credit limit is the maximum amount for which an importer may have balances outstanding under documentary credits at any one time.

Webster Dictionary Meaning

1. Limit
- To beg, or to exercise functions, within a certain limited region; as, a limiting friar.
2. Limit
- That which terminates, circumscribes, restrains, or confines; the bound, border, or edge; the utmost extent; as, the limit of a walk, of a town, of a country; the limits of human knowledge or endeavor.
- The space or thing defined by limits.
- That which terminates a period of time; hence, the period itself; the full time or extent.
- A restriction; a check; a curb; a hindrance.
- A determining feature; a distinguishing characteristic; a differentia.
- A determinate quantity, to which a variable one continually approaches, and may differ from it by less than any given difference, but to which, under the law of variation, the variable can never become exactly equivalent.
- To apply a limit to, or set a limit for; to terminate, circumscribe, or restrict, by a limit or limits; as, to limit the acreage of a crop; to limit the issue of paper money; to limit one's ambitions or aspirations; to limit the meaning of a word.
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