Retire

1.

To withdraw from membership: as, to retire from a firm or partnership. Whence retiring partner, q. v. 3. In its application to bills of exchange, is ' Commonwealth v. Kimball, 7 Mete. 308 (1843). s Bridges v. State, 37 Ark. 226 (1881). = State V. Lowenhaught, 11 Lea, 15 (1883), Freeman J.; Webb v. State, ib.

664 (1883).. ■• United States v. Bonham, 31 F. E. 808 (1887). ' United States v. Mickle, 1 Cranch, C. C. 268 (1803). "Forsythe, Hist. Lawyers, 353. See 3 E. I. 206; 60 Iowa, 520; 3 Chitty, Pr. 116, m. ambiguous.

It is ordinarily used of an indorser who takes up a bill by handing the amount to a transferee, after which the indorser holds the instrument with all his remedies intact. But it is sometimes used of an acceptor, by whom, when a bill is taken up or retired at maturity, it is in effect paid, and all the remedies on it extinguished. ^ Acts of Congress speak of " retiring " from circulation coin or otlier money of a particular issue or denomination.