payment for honor

payment for honor
A former practice of the commercial world, sometimes known as payment supra protest, now obsolete because of existing facilities for quick communication, whereunder, a bill of exchange or promissory note having been protested for nonpayment, a third party would pay in order to protect the credit of the drawer or maker which otherwise would suffer during the period of delay ensuing before the latter could be notified of the protest and take steps of his own to protect his credit. 11 Am J2d B & N § 506.

Ballentine's law dictionary. . 1998.

Игры ⚽ Нужно решить контрольную?

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  • honor — Verb: To pay or to accept and pay. UCC § 1 201(21). Noun: Adherence to right principles of conduct; integrity. Respect accorded another. A seigniory consisting of an aggregation of manors held under one lord paramount was so called, especially if …   Ballentine's law dictionary

  • payment supra protest — Same as payment for honor …   Ballentine's law dictionary

  • for — /fawr/; unstressed /feuhr/, prep. 1. with the object or purpose of: to run for exercise. 2. intended to belong to, or be used in connection with: equipment for the army; a closet for dishes. 3. suiting the purposes or needs of: medicine for the… …   Universalium

  • for — [[t]fɔr[/t]] unstressed [[t]fər[/t]] prep. 1) with the object or purpose of: to run for exercise[/ex] 2) intended to belong to or be used in connection with: equipment for the army; a closet for dishes[/ex] 3) suiting the purposes or needs of:… …   From formal English to slang

  • for — prep 1. for the purpose of, in order to, with the object or goal of, so as to become, with a view or eye to, in quest of, seeking, looking for; destined for, in destination of, toward, to. 2. concerning, belonging to; appropriate to. fitting for …   A Note on the Style of the synonym finder

  • act of honor — an acceptance or payment for honor of a protested bill of exchange; also : the instrument reciting such protest and acceptance or payment …   Useful english dictionary

  • for — for1 [fôr, fʉr] prep. [ME < OE, akin to Ger für & Du ver < IE base * per > L per , pro , prae , Gr pro, Sans pári] 1. in place of; instead of [to use blankets for coats] 2. as the representative of; in the interest of [acting for… …   English World dictionary

  • Honor system — An honor system or honesty system is a philosophical way of running a variety of endeavors based on trust, honor, and honesty. Something that operates under the rule of the honor system is usually something that does not have strictly enforced… …   Wikipedia

  • honor — I. noun Etymology: Middle English, from Anglo French onur, honur, from Latin honos, honor Date: 13th century 1. a. good name or public esteem ; reputation b. a showing of usually merited respect ; recognition < pay honor to our founder > …   New Collegiate Dictionary

  • Payment — (Roget s Thesaurus) < N PARAG:Payment >N GRP: N 1 Sgm: N 1 payment payment defrayment Sgm: N 1 discharge discharge Sgm: N 1 acquittance acquittance quittance Sgm: N 1 settlement settlement clearance liquidation …   English dictionary for students

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