Simple English definitions for legal terms
Read a random definition: American Bar Association
Definition: Acceptance au besoin is a type of acceptance in which a person agrees to pay a draft in case the drawee fails to do so. It is a French term that means "in case of need."
Example: Suppose A draws a bill of exchange on B, who is the drawee. C agrees to accept the bill for payment in case B fails to do so. This is an example of acceptance au besoin.
This type of acceptance is used to ensure that the bill of exchange is paid even if the drawee is unable to do so. It is a form of guarantee provided by a third party to ensure that the payment is made.
Acceptable Identification of Goods and Services Manual | acceptance by silence