Accommodation

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accommodation

n. 1) a favor done without compensation (pay or consideration), such as a signature guaranteeing payment of a debt, sometimes called an accommodation indorsement. Such accommodation is not the smartest business practice, since the holder of the note can go after the accommodator rather than the debtor and will do so if the accommodator has lots of money or is easier to locate than the debtor. 2) giving in to an adversary on a point to make a deal work. (See: guarantor)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

ACCOMMODATION, contracts. An amicable agreement or composition between two contending parties. It differs from accord and satisfaction, which may take place without any difference having existed between the parties.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.