What is AVAL? Definition of AVAL in Black's Law Dictionary
In French law
The guaranty of a bill of exchange; so called because usually placed at the foot or bottom (awl) of the bill. Story, Bills, §§ 394, 454. 11 Harv.L.Rev. 55.
In Canadian law
The act of subscribing one's signature at the bottom of a promissory note or of a bill of exchange; properly an act of suretyship, by the party signing, in favor of the party to whom the note or bill is given. 1 Low.Can. 221; 9 Low.Can. 360.
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Thats's the definition of AVAL in Black's Law Dictionary
