The Collaborative International Dictionary of English v.0.48:

Draft \Draft\ (dr[.a]ft), n. [The same word as draught. OE.
   draught, draht, fr. AS. dragan to draw. See Draw, and cf.
   Draught.]
   1. The act of drawing; also, the thing drawn. Same as
      Draught.
      [1913 Webster]

            Everything available for draft burden. -- S. G.
                                                  Goodrich.
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   2. (Mil.) A selecting or detaching of soldiers from an army,
      or from any part of it, or from a military post; also from
      any district, or any company or collection of persons, or
      from the people at large; also, the body of men thus
      drafted.
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            Several of the States had supplied the deficiency by
            drafts to serve for the year.         --Marshall.
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   3. An order from one person or party to another, directing
      the payment of money; a bill of exchange.
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            I thought it most prudent to defer the drafts till
            advice was received of the progress of the loan. --
                                                  A. Hamilton.
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   4. An allowance or deduction made from the gross weight of
      goods. -- Simmonds.
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   5. A drawing of lines for a plan; a plan delineated, or drawn
      in outline; a delineation. See Draught.
      [1913 Webster]

   6. The form of any writing as first drawn up; the first rough
      sketch of written composition, to be filled in, or
      completed. See Draught.
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   7. (Masonry)
      (a) A narrow border left on a finished stone, worked
          differently from the rest of its face.
      (b) A narrow border worked to a plane surface along the
          edge of a stone, or across its face, as a guide to the
          stone-cutter.
          [1913 Webster]

   8. (Milling) The slant given to the furrows in the dress of a
      millstone.
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   9. (Naut.) Depth of water necessary to float a ship. See
      Draught.
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   10. A current of air. Same as Draught.
       [1913 Webster]

   11. A quantity of liquid poured out for drinking; a dose.
       [PJC]

   12. The act of drawing a quantity of liquid from a large
       container; also, the quantity of liquid so drawn.
       [PJC]

   13. A device for regulating the flow of gases in a chimney,
       stovepipe, fireplace, etc.; as, to close the chimney
       draft. It is usually a flat plate of the same internal
       dimensions as the flue, which can be rotated to be
       parallel to or perpendicular to the current of gases.
       [PJC]

The Collaborative International Dictionary of English v.0.48:

Draft \Draft\, v. t. [imp. & p. p. Drafted; p. pr. & vb. n.
   Drafting.]
   1. To draw the outline of; to delineate.
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   2. To compose and write; as, to draft a memorial.
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   3. To draw from a military band or post, or from any
      district, company, or society; to detach; to select;
      especially, to compulsorily select and induct members of a
      population to serve in the armed forces.
      [1913 Webster +PJC]

            HotLips Houlihan: How did a degenerate person like
            him achieve such a position of responsibility in the
            army? Radar: He was drafted.          --M*A*S*H (the
                                                  movie)

            Some royal seminary in Upper Egypt, from whence they
            drafted novices to supply their colleges and
            temples.                              -- Holwell.
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   4. To transfer by draft.
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            All her rents been drafted to London. -- Fielding.
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The Collaborative International Dictionary of English v.0.48:

Draft \Draft\, a.
   1. Pertaining to, or used for, drawing or pulling (as
      vehicles, loads, etc.). Same as Draught; as, a draft
      horse.
      [1913 Webster]

   2. Relating to, or characterized by, a draft, or current of
      air. Same as Draught.
      [1913 Webster]

   Note: The forms draft and draught, in the senses above-given,
         are both in approved use.
         [1913 Webster]

   Draft box, Draft engine, Draft horse, Draft net,
   Draft ox, Draft tube. Same as Draught box, Draught
      engine, etc. See under Draught.
      [1913 Webster]

WordNet (r) 3.0 (2006):

draft
    n 1: a document ordering the payment of money; drawn by one
         person or bank on another [syn: draft, bill of
         exchange, order of payment]
    2: a current of air (usually coming into a chimney or room or
       vehicle) [syn: draft, draught]
    3: a preliminary sketch of a design or picture [syn: draft,
       rough drawing]
    4: a serving of drink (usually alcoholic) drawn from a keg;
       "they served beer on draft" [syn: draft, draught,
       potation, tipple]
    5: any of the various versions in the development of a written
       work; "a preliminary draft"; "the final draft of the
       constitution" [syn: draft, draft copy]
    6: the depth of a vessel's keel below the surface (especially
       when loaded) [syn: draft, draught]
    7: a regulator for controlling the flow of air in a fireplace
    8: a dose of liquid medicine; "he took a sleeping draft" [syn:
       draft, draught]
    9: compulsory military service [syn: conscription, muster,
       draft, selective service]
    10: a large and hurried swallow; "he finished it at a single
        gulp" [syn: gulp, draft, draught, swig]
    11: the act of moving a load by drawing or pulling [syn:
        draft, draught, drawing]
    v 1: draw up an outline or sketch for something; "draft a
         speech" [syn: draft, outline]
    2: engage somebody to enter the army [syn: enlist, draft,
       muster in] [ant: discharge, muster out]
    3: make a blueprint of [syn: blueprint, draft, draught]