Acceptor Or Accepter - Law Dictionary Search Results
Home Dictionary Name: acceptor or accepterAcceptor or Accepter
Acceptor or Accepter, a person who accepts a bill of exchange. See ACCEPTANCE....
Acceptor for honour
Acceptor for honour, When the bill of exchange has been noted or protested for non-acceptance or for better security, and any person accepts it supra protest for honour of the drawer or of any one of the indorsers, such person is called an 'acceptor for honour'. [Negotiable Instruments Act, 26 of 1881, s. 7)...
Blank acceptance
Blank acceptance. An acceptance written on the paper before the bill is made, and delivered by the acceptor, will charge the acceptor to the extent warranted by the stamp. See Bills of Exchange Act, 1882, s. 20....
Acceptor
Acceptor, After the drawee of bill has signed his assent upon the bill, or if there are more parts thereof than, one upon one of such parts, and delivered the same, or given notice of such signing to the holder or to some person on his behalf, he is called the acceptor. [Negotiable Instruments Act, 26 of 1881, s. 7)...
Acceptance
Acceptance, the taking and receiving of anything in good part, and as it were a tacit agreement to a preceding act, which might have been defeated or avoided if such acceptance had not been made, Jac. Law Dict.The assenting to an offer: it is by the acceptance, whether express or implied, of an offer that all contracts are made. See CONTRACT, AGREEMENT.Acceptance of a bill of exchange is defined by the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. C. 61), s. 17, as 'the signification by the drawee of his assent to the order of the drawer.' It must be written on the bill, and signed by the drawee, whose mere signature is sufficient to charge him: and it must not express that the drawee will perform his promise by any other means than the payment of money, Ib. See BILL OF EXCHANGE.Means communicated acceptance, Ashok Kumar Sahu v. Union of India, (2006) 6 SCC 704....
Acceptance of bill of exchange
Acceptance of bill of exchange, 'Acceptance' in regard to a bill of exchange does not'mean 'taking' or 'receiving'. Acceptance of a bill of exchange is the signification by the drawee of his assent to the order of the drawer. It is the act by which the drawee evinces his consent to comply with, and be bound by, the request contained in a bill of exchange directed to him, and is the drawee's agreement to pay the bill when it falls due. In commercial parlance acceptance of a bill of exchange is the drawee's signed engagement to honour the draft as presented, American Express Bork Ltd. v. Calcutta Steel Co., (1993) 2 SCC 199 (207). [Negotiable Instruments Act, 1881, ss. 7, 32, 33]...
Acceptance of goods
Acceptance of goods. By s. 4 of the (English) Sale of Goods Act, 1893 (56 & 57 Vict. C. 71), a contract for sale of goods of the value of 10' or more is not enforceable by action unless the buyer 'accept' part of the goods and actually receive them, or partly pay, or unless there be a note or memorandum in writing of the contract signed by the party to be charged, and there is an acceptance 'when the buyer does any act in relation to the goods which recognizes a pre-existing contract of sale whether there be an acceptance in performance of the contract or not.'...
Approval and Acceptance
Approval and Acceptance, -- Expression 'approval' presupposes an existing order. 'Acceptance' means communicated acceptance. A distinction exists between the expressions 'approval' and 'acceptance', Ashok Kumar Sahu v. Union of India, AIR 2006 SC 2879. [All India Services Act, 1951, s. 3]...
Free acceptance
Free acceptance, a defendant who 'freely accepts' goods or services may be held to have been enriched thereby. A free acceptance has been stated to occur where a recipient knows that a benefit is being offered to him non-gratuitously and where he, having the opportunity to reject, elects to accept so that 'when a defendant has passed up an opportunity to reject a benefit knowing that it was not offered gratuitously he has only himself to blame for the resulting situation, Birks an Introduction to the Law of Restitution, (1985) P 114. See also Halsbury's Laws of England, Vol. 40(2) para 1315, p. 610....
accept
accept 1 a : to receive with consent [ a gift] [ service] b : to assent to the receipt of and treat in such a way as to indicate ownership of [ed the shipment despite discovering defects in the merchandise] compare reject NOTE: Under section 2-606(1) of the Uniform Commercial Code, a buyer accepts goods if: 1) he or she indicates to the seller after a reasonable opportunity to inspect them that he or she will keep them; 2) he or she fails to effectively reject them; 3) he or she acts in a way that is inconsistent with seller's ownership of the goods. 2 : to make an affirmative or favorable response to ;specif : to indicate by words or action one's assent to (an offer) and willingness to enter into a contract NOTE: A contract is created when the offer is accepted. 3 : to assume orally, in writing, or by conduct an obligation to pay [ing a draft] 4 of a deliberative body : to receive (a report) officially (as from a committee) vi 1 : to receive favorably something offered usu...
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