acceptance supra protest
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 26 U.S. 250 - William Konig Who is an Alien Below v. William Bayard · 1828Most cited · 3 citing opinions
Any stranger has a right to intervene in case of the non-acceptance, or non-payment of a bill of exchange. This is an established usage in commercial operations, and contributes essentially to their safety and certainty. To the drawer and endorsers, it saves the damages on the bill, which would be payable on its return, and prevents other heavy expenses.