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Legislative Dictionary

Acceptor for Honour

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TitleAcceptor for Honour

When a bill of exchange has been noted or protested for non-acceptance or for better security, and any person accepts it supra protest for honour of the drawer or of any one of the endorsers, such person is called on "acceptor for honour".

[See, section 7, the Negotiable Instruments Act, 1881 (Act No. XXV of 1881).
Created OnDecember 19, 2010, 11:23 AM