acceptor


Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.
Related to acceptor: acceptor circuit
See: bearer, customer, devisee, donee, feoffee, grantee, heir, payee, transferee

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 ?
British-trained fillies have won all four runnings of the 1m event since it achieved Group 1 status in 2004 and the 16 acceptors for Saturday's renewal include Falmouth Stakes winner Nahoodh, whose trainer Mark Johnston was successful with Attraction in 2005.
MEI is a leading supplier of currency acceptors used in the worldwide casino gaming, vending, retail, and transportation industries.
Commenting on the deal Eurocoin Sales Director Colin Veitch said, "Our extensive sales into European gaming OEMs on a wide product portfolio make us a perfect fit for GPT; their experience in manufacturing and supporting casino level bill acceptors with Ticket-In, Ticket-Out (TITO) functionality is equally attractive to us.
Combined sales and marketing for MEI's CASHFLOW SC66 bill acceptors and FutureLogic's PSA-66 line of thermal printers will provide international customers with one outlet for the two components for cashless gaming.
The most comprehensive package, comprising not only a coin acceptor but encompassing our demands in warehousing, production and field support, is the Microcoin QL.
acceptors for the Grade 1 BMW Chase, the feature event on the opening day of the Punchestown Festival on Tuesday, writes Tony
4" LCD screen, a high-performance industry-standard PC running Windows NT, a bill acceptor, audio capability and an encrypted PIN pad.
Systems that utilize an MEI CASHFLOW(TM) SC bill acceptor or Series 2000 bill acceptors (including the AE2800 and AE2600), can receive the software upgrade by remote FLASH download at a cost of $10-20 per unit.
From its international headquarters in Osaka, Japan and its United States offices in Las Vegas, JCM's progressive spirit continues to set world-wide industry standards with innovative products such as the World Bill Acceptor (WBA).
The carbohydrates used included three new preparations synthesized from alternansucrase (asr)--maltose acceptor product, raffinose acceptor product and low mass alternan--and three commercial products: Benefiber, Fibersol-2 and Neosugar.
Charlie Mann supplies the remaining acceptor in the shape of nine-year- old Dunston Bill.