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单词 accommodation endorsement
释义

Accommodation Endorsement


Accommodation Endorsement

The act of a third person—the accommodation party—in writing his or her name on the back of a Commercial Paper without any consideration, but merely to benefit the person to whom the paper is payable or to enable the person who made the document—the maker—to obtain money or credit on it.

An accommodation endorsement is a loan of the endorser's credit up to the face amount of the paper.

Accommodation Endorsement


Accommodation Endorsement

A guarantee made on a bill of exchange without compensation for the guaranteeing party. That is, the third party provides an accommodation endorsement as a favor. The accommodation endorsement reduces the risk to the bill of exchange. See also: Accommodation Bill.
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更新时间:2024/12/23 23:15:09