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[kevin oleary]
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LSDefine
Simple English definitions for legal terms
acceptance au besoin
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A quick definition of acceptance au besoin:
Acceptance is when someone agrees to the terms of an offer, either by saying yes or by doing something that shows they agree. This makes a contract that both parties have to follow. If someone changes the terms of the offer when they accept it, it becomes a new offer. Acceptance can also mean agreeing to buy something and paying for it, or agreeing to pay a bill. Sometimes, someone else can accept a bill or debt to help out the person who owes the money.A more thorough explanation:
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