What is ACCOMMODATION PAPER? Definition of ACCOMMODATION PAPER in Black's Law Dictionary
An accommodation bill or note is one to which the accommodating party, be he acceptor, drawer, or indorser, has put his name, without consideration, for the purpose of benefiting or accommodating some other party who desires to raise money on it, and is to provide for the bill when due. Miller v. Larned, 103 Iii. 562; Crothers v. National Bank of Chesapeake City, 158 Md. 587, 149 A. 270, 272; Hickox v. Hickox, Tex.Civ.App., 151 S.W.2d 913, 917.
Must be executed for the purpose of loaning credit, and incidental benefit to party is insufficient. Morrison v. Painter, Mo.App., 17C .3.W.2d 965, 970.
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ACCOMMODATION PARTY
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That's the definition of ACCOMMODATION PAPER in Black's Law Dictionary - Courtesy of Cekhukum.com.
