What is ACCOMMODATION PARTY? Definition of ACCOMMODATION PARTY in Black's Law Dictionary
One who has signed an instrument as maker, drawer, acceptor, or indorser without receiving value therefor, and for purpose of lending his name to some other person as means of securing credit. Bachman v. Junkin, 129 Neb. 165, 260 N.W. 813.
The term does not include one who, for the accommoda- tion of the maker, guaranteed the payment of a note. Noble v. Beeman-Spaulding-Woodward Co., 65 Or. 93, 131 1006, 1010.
Indorser, Myrtilles, Inc., v. Johnson, 124 Conn. 177, 199 A. 115, 117; president and directors of bank, Davis v. Holt, Federal Deposit Ins. Corporation, Intervenor, Mo.App., 154 S. W.2d 595. 597; apparent comaker. McLendon v. Lane, 51 Ga.App. 409, 180 S.E. 746; to make note look better for payee bank, Pirtle v. Johnson, 145 Kan. 8, 64 P.2d 2, 4.
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That's the definition of ACCOMMODATION PARTY in Black's Law Dictionary - Courtesy of Cekhukum.com.
