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TeachMeFinance.com - explain Short bill historic definition... Short bill -- Same as short-dated bill; a bill of exchange (draft) having a short time to run. A bill running for 30 days or less is usually termed a short bill or short-dated bill. 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.