Take Up
Defined in 2 dictionaries — Bouvier (1914), Black's (1910)
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
An indorser or acceptor is said to take up, or retire, a bill when he discharges his liability upon it. In such a case, the indorser would hold the instrument with all his remedies intact; while the acceptor would extinguish all the remedies on it. One who accepts a lease is also said to take it up.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
A party to a negotiable instrument, particularly an indorser or acceptor, is said to "take up" the paper, or to "retire" it, when he pays its amount, or substitutes other security for it, and receives it again into his own hands. See Hartzell v. McClurg, 54 Neb. 316, 74 N. W. 626.
Defined under Take in Black's Law Dictionary.