What is Open A Credit?

Legal Definition
When a banker accepts or pays a bill of exchange drawn on him by a correspondent, who has not furnished him with funds, he is said to open a credit with the drawer. Pardess. n. 29.
-- Bouviers Law Dictionary
Legal Definition
To accept or pay the draft of a correspondent who has not furnished funds. Par-dessus, no. 296.
-- Black's Law Dictionary
Legal Definition
To accept or pay the draft of a correspondent who has not furnished funds.
-- Ballentine's Law Dictionary