dishonor by non-acceptance
Definition
Failure of a drawee to accept a duly presented and valid bill of exchange (such as a sight draft). The drawer then has the legal right to start a court action called protest.
dishonor by non-acceptance is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law and International Trade & Relations subjects.
dishonor by non-acceptance appears in the definitions of the following terms: acceptance for honor and qualified acceptance
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