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LSDefine

Simple English definitions for legal terms

acceptance for honor

Read a random definition: solemn oath

A quick definition of acceptance for honor:

Acceptance is when someone agrees to the terms of an offer, either by saying yes or by doing something that shows they agree. This creates a binding contract. If someone changes the terms of the offer, it becomes a new offer. Acceptance can also refer to a buyer agreeing to take goods in a sale, or to someone agreeing to pay a negotiable instrument like a bill of exchange. Acceptance for honor is when a third party agrees to pay a debt to protect the honor or credit of one of the parties.

A more thorough explanation:

Acceptance for honor is an agreement made by a third party to pay a debt when it becomes due if the original debtor fails to do so. This type of acceptance is not made by a party to the instrument, but by someone else who wants to protect the honor or credit of one of the parties. It is also known as acceptance supra protest or acceptance for honor supra protest.

For example, if a bill of exchange is dishonored by non-acceptance and is not yet overdue, a friend of the drawer or an indorser may accept it for the honor of the drawer or indorser. This means that the friend places their own name on the bill as the acceptor for the whole or part of the amount of the bill. After a protest has been drawn up declaring its dishonor by the drawee, the friend can pay the bill to prevent it from being sent back to the drawer or indorser as unpaid.

This type of acceptance inures to the benefit of all successors to the party for whose benefit it is made. It is an exception to the rule that only the drawee can accept a bill.

acceptance doctrine | acceptance-of-the-benefits rule

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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