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TeachMeFinance.com - explain Set of exchange historic definition... Set of exchange -- A bill of (foreign) exchange drawn in duplicate or triplicate and numbered first and second or first, second and third of exchange. Payment of any one copy of the bill extinguishes the set. For additional information see First, second and third of exchange. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.