Acceptance for honor

Acceptance for honor,

Definition of Acceptance for honor:

  1. Undertaking by a third party to accept and pay (in part or in full) a bill of exchange that was dishonored, either by non-acceptance (see dishonor by non-acceptance) or by non-payment (see dishonor by non payment) by the party on whom it was drawn. Also called acceptance supra protest.

Meaning of Acceptance for honor & Acceptance for honor Definition