acceptor

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ACCEPTOR, contracts. The person who agrees to pay a bill of exchange drawn upon him. There cannot be two separate acceptors of a bill of exchange, e. g. an acceptance by the drawee, and another for the honor of some party to the bill. Jackson v. Hudson, 2 Campb. N. P. C. 447.
     2. The acceptor of a bill is the principal debtor, and the drawer the surety. He is bound, though he accepted without consideration, and for the sole accommodation of the drawer. By his acceptance he admits the drawer's handwriting, for, before acceptance it was incumbent upon him to inquire into the genuineness of the drawer's handwriting. 3 Burr. 1354; 1 Bla. Rep. 390, S. C.; 4 Dall. 234; 1 Binn. 27, S. C. When once made, the obligation of the acceptor is irrevocable. As to what amounts to an acceptance, see ante, Acceptance; Chitty on Bills, 242, et. seq.; 3 Kent, Com. 55, 6; Pothier, Traite du Contrat de Change, premiere part. n. 44.
     3. The liability of the acceptor cannot in general be released or discharged, otherwise than by payment, or by express release or waiver, or by the act of limitations. Dougl. R. 247. What amounts to a waiver and discharge of the acceptor's liability, must depend on the circumstances of each particular case. Dougl. 236, 248; Bayl. on Bills, 90; Chitty on Bills, 249.

References in periodicals archive ?
Walsh, head of the contract services department logistics directorate at the National Naval Medical Center Bethesda, and the WAWF group administrator and acceptor, enjoys the availability of the implementation team, describing implementation as "seamless and transparent.
Before informing Morgan of his new job, LeJeune transferred several Coin Acceptors documents to CD.
Francois Doumen's Jim And Tonic, a Dollar defector, is still in the group two Prix du Rond Point over a mile for which there are two British acceptors.
Anthony Harriman of the Louis Pasteur University in Strasbourg, France, devised a system in which donors and acceptors intercalate into DNA, with random separations.
In this survey a stratified systematic random sample of 1929 acceptors of various contraceptive methods from Family Welfare Centres (FWCs) was selected as FWCs are major outlets of the Population Welfare Programme.
The Card is a real problem solver for the vending industry and addresses the necessity to maintain bill acceptors.
And his mark was unchanged after his most recent win Following the withdrawal of original top-weight Tiger Roll, the Tony Martin-trained Ted Veale (also entered for Sunday's Grade 2 Killiney Novice Chase) heads the list of 31 acceptors, with the weights set to rise by 6lb at the overnight stage.
Imec implemented two fullerene-free materials as acceptor, increasing open-circuit voltages compared to OPV cells with fullerene acceptors.
Although Hurricane Fly appeared yesterday among the list of nine acceptors for the December 29 Grade 1, there was no policy change from Ireland's champion trainer.
MEI is a leading supplier of currency acceptors used in the worldwide casino gaming, vending, retail, and transportation industries.
Luca Cumani's Gossamer is one of 14 British acceptors in the seven-furling Group One Prix de la Foret at Longchamp on Sunday.