ACCEPTOR SUPRA PROTEST
Legal Dictionary -> ACCEPTOR SUPRA PROTESTSearch:
ACCEPTOR SUPRA PROTESTACCEPTOR SUPRA PROTEST, in contracts, is a third person, who, after protest
for non-acceptance by the drawee, accepts the bill for the honor of thedrawer, or of the particular endorser. 2. By this acceptance he subjects himself to the same
obligations as ifthe bill had been directed to him. An acceptor supra protest has his remedyagainst the person for whose honor he accepted, and against all persons whostand
prior to that person. If he takes up the bill for the honor of theendorser, he stands in the light of an endorsee paying full value for thebill, and has the same remedies to which an
endorsee would be entitledagainst all prior parties, and he can, of course, sue the drawer andendorser., 1 Ld. Raym. 574; 1 Esp. N. P. Rep. 112; Bayly on Bills, 209; 3Kent.
Com. 57; Chitty on Bills, 312. The acceptor supra protest is requiredto give the same notice, in order to charge a party, which is necessary tobe given by other holders. 8 Pick.
1. 79; 1 Pet. R. 262. Such acceptor isnot liable, unless demand of payment is made on the drawee, and notice ofhis refusal given. 3 Wend. 491.
Terms of Use | Canadian Lawyers