wrongful dishonor definition

wrongful dishonor

Failure of a bank to honor a valid and payable bill of exchange or negotiable instrument within a statutory period (usually until midnight of the day of presentment). If the bank's customer (drawee or drawer) suffers provable harm, the bank may be liable for damages.

wrongful dishonor is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law and International Trade & Relations subjects.

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