ACCOMODATION
\ɐkˌɒmədˈe͡ɪʃən], \ɐkˌɒmədˈeɪʃən], \ɐ_k_ˌɒ_m_ə_d_ˈeɪ_ʃ_ə_n]\
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Com. law. That which is done by one merchant or other person for the convenience of some other, by accepting or endorsing his paper, or by lending him his notes or bills.
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In general the parties who have drawn, endorsed or accepted bills or other commercial paper for the accommodation, of others, are, while in the hands of a holder who received them before they became due, other than the person for whom the accomodation was given, responsible as if they had received full value. Chit. Bills, 90; 91. See 4 Cranch, 141; 1 Ham. 413; 7 John. 361; 15 John. 355, 17 John. 176; 9 Wend. 170; 2 Whart. 344; 5 Wend. 566; 8 Wend. 437; 2 Hill, S. C. 362; 10 Conn. 308; 6 Munfd. 381.
By John Bouvier
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.