- accommodation party (maker)
n.A person who signs his or her name to a note or commercial paper to lend credit to another signer, the accommodated party, without consideration and thereby assuming liability for the debt; a cosigner or surety.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
Look at other dictionaries:
accommodation party — see party 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accommodation party … Law dictionary
accommodation party — A person who has signed a bill or note as maker, drawer, acceptor, or indorser for the purpose of lending his name to the credit of some other person. 11 Am J2d B & N § 12 1. Under the Commercial Code, absence of consideration is not a requisite… … Ballentine's law dictionary
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… … Law dictionary
accommodation maker — >> accommodation party. Webster s New World Law Dictionary. Susan Ellis Wild. 2000 … Law dictionary
accommodation — /akomsdeyshan/ An arrangement or engagement made as a favor to another, not upon a consideration received. Something done to oblige, usually spoken of a loan of money or commercial paper; also a friendly agreement or composition of differences.… … Black's law dictionary
accommodation maker — One who puts his name to a note without any consideration with the intention of lending his credit to the accommodated party. In re Chamberlain s Estate, Cal.App., 109 P.2d 449, 454. U.C.C. No. 3 415. See also accommodation party … Black's law dictionary
accommodation — I (adjustment) noun accordance, adaptation, agreement, arrangement, compositio, composition of differences, compromise, friendly agreement, harmonization, mutual understanding, obliging, provision, readjustment, reconciliatio, rectification,… … Law dictionary
accommodation paper — or accommodation bill or accommodation note n. a bill of exchange cosigned by one party as maker, acceptor, or endorser without requiring collateral or a fee, in order to lend his or her credit reputation to the second party * * * … Universalium
accommodation paper — or accommodation bill or accommodation note n. a bill of exchange cosigned by one party as maker, acceptor, or endorser without requiring collateral or a fee, in order to lend his or her credit reputation to the second party … English World dictionary
accommodation bill — A bill of exchange on which the maker, indorser, or acceptor has assumed liability, in order to tend the credit of his name to another party. 11 Am J2d B & N §121 … Ballentine's law dictionary