Accommodation Bill

Accommodation Bill, one which the accommodating party has signed as drawer, acceptor, or endorser, without receiving value therefor and for the purpose of lending his name to some other person; he is liable on the bill to a holder for value; and it is immaterial whether, when such holder took the bill, he knew such party to be an accommodation party or not. The accommodating party has a right to be indemnified by the party to whom he lent his name. See (English) Bills of Exchange Act, 1882, s. 28.