Business, Legal & Accounting Glossary
In contracts, is a third person, who, after protest for non-acceptance by the drawee, accepts the bill for the honour of the drawer, or of the particular endorser.
The acceptance or payment of a bill of exchange, after it has been dishonoured, by a person wishing to save the honour of the drawer or an endorser of the bill.
A situation in which a third party (such as a bank) makes payment on a bill of exchange that a buyer did not pay, either because the buyer refused to accept delivery (usually due to lack of quality) or simply because he/she refused to pay. It is also called acceptance for honour.
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Definitions for Acceptance Supra Protest are sourced/syndicated and enhanced from:
This glossary post was last updated: 7th May, 2019 | 123 Views.