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 ?
Only four imported horses accepted far from the laid down condition set for the running of the race envisaging five acceptors from different interests.
In addition to an established exciton dissociation at the central donor-acceptor interface, the excitons generated in the outer acceptor layer of this new OPV are first relayed by energy transfer to the central acceptor, and subsequently dissociated at the donor interface.
The useful complementary redox materials were electron acceptors and include such compounds as, for example, phenyl-hydroquinone, fluorenones, fluorenes, carbazoles that are poly-nitro substituted, and benzene compounds substituted with electron withdrawing groups [17].
D]), then a series of new pairing chances between donors and acceptors occurs.
RQ2: Why do acceptors accept handbills, and why do nonacceptors reject them?
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.
LeJeune said that his position at Mars would be "unique" because of his experience at Coin Acceptors.
David Loder's Royal Dignitary is one of five British acceptors left in the Group Three Prix de la Porte Maillot on the same card.
The bacteroide thetaiotaomicron displayed growth on low-mass alternan, raffinose acceptor and Neosugar.
The two British acceptors are the 2,000 Guineas third Norse Dancer and Sir Michael Stoute's Kris Kin, though both could yet be supplemented for Epsom.
ELUSIVE City, Gerald Butler's Prix Morny winner, is one of four British acceptors remaining in the Poule d'Essai des Poulains at the prestigious Longchamp meeting on Sunday.