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draft (n.)

c. 1500, a spelling variant of draught (q.v.) to reflect change in pronunciation. By the end of the 19c. it was the established form in the military, commercial, and many technical sentences, and it is now almost universal in American English as conforming to the pronunciation.

The meaning "rough copy of a writing" (something "drawn") is attested from 14c.; that of "preliminary sketch from which a final copy is made" is from 1520s; that of "flow of a current of air" is from c. 1770. Of beer from the 1830s, in reference to the method of "drawing" it from the cask. Sense in bank draft is from 1745. The meaning "a drawing off a group for special duty" is from 1703, in U.S. especially of military service; the verb in this sense first recorded 1714. Related: Drafted; drafting.

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Definitions of draft from WordNet
1
draft (n.)
a document ordering the payment of money; drawn by one person or bank on another;
Synonyms: bill of exchange / order of payment
draft (n.)
a current of air (usually coming into a chimney or room or vehicle);
Synonyms: draught
draft (n.)
a preliminary sketch of a design or picture;
Synonyms: rough drawing
draft (n.)
a serving of drink (usually alcoholic) drawn from a keg;
they served beer on draft
Synonyms: draught / potation / tipple
draft (n.)
any of the various versions in the development of a written work;
a preliminary draft
the final draft of the constitution
Synonyms: draft copy
draft (n.)
the depth of a vessel's keel below the surface (especially when loaded);
Synonyms: draught
draft (n.)
a regulator for controlling the flow of air in a fireplace;
draft (n.)
a dose of liquid medicine;
he took a sleeping draft
Synonyms: draught
draft (n.)
compulsory military service;
Synonyms: conscription / muster / selective service
draft (n.)
a large and hurried swallow;
Synonyms: gulp / draught / swig
draft (n.)
the act of moving a load by drawing or pulling;
Synonyms: draught / drawing
2
draft (v.)
draw up an outline or sketch for something;
draft a speech
Synonyms: outline
draft (v.)
engage somebody to enter the army;
Synonyms: enlist / muster in
draft (v.)
make a blueprint of;
Synonyms: blueprint / draught
From wordnet.princeton.edu