What is ACCOMMODATION? Definition of ACCOMMODATION in Black's Law Dictionary
An arrangement or engagement made as a favor to another, not upon a consideration received; something done to oblige, usually spoken of a loan of money or commercial paper; also a friendly agreement or composition of differences. Abbott; Sales v. Martin, 173 Ky. 616, 191 S.W. 480, 482. The word implies no consideration. William D. Seymour & Co. v. Castell, 160 La. 371, 107 So. 143, 145.
"While a party's intent may be to aid a maker of note by lending his credit, if he seeks to accomplish thereby legitimate objects of his own, and not simply to aid maker, the act is not for 'accommodation.' " Bazer v. Grimmett, 16 La.App. 613, 135 So. 54, 56.
More On This Topic:
ACCOMMODATION PARTY
ACCOMMODATION PAPER
ACCOMMODATION MAKER
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That's the definition of ACCOMMODATION in Black's Law Dictionary - Courtesy of Cekhukum.com.
