accommodated party
The person for whose benefit another known as the accomodation party signs a bill or note as maker, drawer, acceptor or indorser, thereby lending the credit of his name to the former. 11 Am J2d B & N § 121. An indorser is accommodated when the maker, drawer or acceptor of a negotiable instrument makes , draws, or accepts it for his benefit, without consideration. Lucas v Swan, (CA4 W Va) 67 F2d 106, 90 ALR 210.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • accommodated party — see party 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accommodated party …   Law dictionary

  • accommodated party — One to whom the credit of the accommodation party is loaned, and is not necessarily the payee, since the inquiry always is as to whom did the maker of the paper loan his credit as a matter of fact; not third person who may receive advantage. See… …   Black's law dictionary

  • accommodated party — One to whom the credit of the accommodation party is loaned, and is not necessarily the payee, since the inquiry always is as to whom did the maker of the paper loan his credit as a matter of fact; not third person who may receive advantage. See… …   Black's law dictionary

  • party — par·ty n pl parties 1 a: one (as a person, group, or entity) constituting alone or with others one of the sides of a proceeding, transaction, or agreement the parties to a contract a person who signed the instrument as a party to the instrument… …   Law dictionary

  • accommodated indorser — See accommodated party …   Ballentine's law dictionary

  • accommodation party — see party 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accommodation party …   Law dictionary

  • accommodation party (maker) — n. A person who signs his or her name to a note or commercial paper to lend credit to another signer, the accommodated party, without consideration and thereby assuming liability for the debt; a cosigner or surety. The Essential Law Dictionary.… …   Law dictionary

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  • accommodation paper — see paper Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accommodation paper …   Law dictionary

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