Retire
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
An applied to Mils of exchange, this word is ambiguous. It is commonly 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 blll is token up or retired at maturity, it is in effect paid, and all the remedies on it extinguished.
Byles, Blils, 215. See Eisam v. Denny, 15 C. B. 94.