referee in case of need

referee in case of need
A person whose name is inserted in a bill of exchange by the drawer or any indorser, as a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonored by nonacceptance or nonpayment. It is in the option of the holder to resort to the referee in case of need or not, as he may see fit. Uniform Negotiable Instruments L § 131,

Ballentine's law dictionary. . 1998.

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