nonacceptance
101payable — Capable of being paid; suitable to be paid; admitting or demanding payment; justly due; legally enforceable. A sum of money is said to be payable when a person is under an obligation to pay it. Payable may therefore signify an obligation to pay… …
102rejection — An offeree s communication to an offerer that the offeree refuses to accept the terms of the proposal made by the offeror. See counteroffer nonacceptance refusal repudiation rescission of contract …
103dishonor — Loss of respect; shame and disgrace. Nonpayment of a bill or note. Nonacceptance of a bill or draft. See fraud or dishonesty …
104foreign bill — A bill of exchange which is not, or does not purport to be, both drawn and payable within the state. Uniform Negotiable Instruments L § 129. The primary importance of the distinction between an inland and a foreign bill of exchange lies in the… …
105go to protest — A negotiable instrument being protested for nonacceptance or nonpayment. See protest …
106notice of dishonor — A notice that a bill or note has been dishonored by nonacceptance or nonpayment. An essential of a cause of action of the holder against an indorser or drawer, unless waived or dispensed with, as where, under the circumstances, it cannot be given …
107protest of negotiable instrument — The formal certificate, notice, declaration, or memorandum, drawn up and signed by a notary public, that he presented the instrument for acceptance or for payment and that it was refused. In loose usage, an act or series of acts in presenting the …
108referee 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… …
109decline — [dē klīn′, diklīn′] vi. declined, declining [ME declinen < OFr decliner, to bend, turn aside < L declinare, to bend from, inflect < de , from (see DE ) + clinare, to bend: see LEAN1] 1. to bend, turn, or slope downward or aside 2. a) …
110rejection — noun 1. the act of rejecting something (Freq. 5) his proposals were met with rejection • Derivationally related forms: ↑reject • Hypernyms: ↑act, ↑deed, ↑human action, ↑human activity …
