What is ACCOMMODATION MAKER? Definition of ACCOMMODATION MAKER in Black's Law Dictionary
One who puts his name to a note without any consideration with the intention of lending his credit to the accommo- dated party. In re Chamberlain's Estate, Cal. App., 109 P.2d 449, 454.
In this connection "without consideration" means "with- out consideration to the accommodating party directly." Warren Nat. Bank, Warren, Pa., v. Suerken, 45 Cal.App. 736, 188 P. 613, 614. One who receives no part of the pro- ceeds, which are used exclusively for another maker's bene- fit, as in discharging his own personal obligation. Backer v. Grummett, 39 Cal.App. 101, 178 P. 312, 313. Must not re- ceive any benefit or consideration directly or indirectly, and transaction must be one primarily for the benefit of the payee. First Trust Co. of Lincoln v. Anderson, 135 Neb. 397, 281 N.W. 796, 798; Void of present or anticipated personal profit, gain, or advantage. Robertson v. City Nat. Bank of Bowie, 120 Tex. 226, 36 S.W.2d 481, 483.
Incidental benefit to party insufficient. Morrison v. Painter, Mo.App., 170 S.W.2d 965, 970.
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ADEQUATE CONSIDERATION
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That's the definition of ACCOMMODATION MAKER in Black's Law Dictionary - Courtesy of Cekhukum.com.
