for honour: Servotte Business Dictionary (Standaard Uitgeverij Antwerpen) ISBN 9002191650.



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http://www.incometaxinfo.com/niact/nia11.shtml
THE NEGOTIABLE INSTRUMENTS ACT, 1881
CHAPTER XI
OF ACCEPTANCE AND PAYMENT FOR HONOUR
AND REFERENCE IN CASE OF NEED
108. Acceptance for honour
When a bill of exchange has been noted or protested for non-acceptance or for better security, any person not being a party already liable thereon may, with the consent of the holder, by writing on the bill, accept the same for the honour of any party thereto.
109. How acceptance for honour must be made
A person desiring to accept for honour must, by writing on the bill under his hand, declare that he accepts under protest the protested bill for the honour of the drawer or of a particular endorser whom he names, or generally for honour.
110. Acceptance not specifying for whose honour it is made
Where the acceptance does not express for whose honour it is made, it shall be deemed to be made for the honour of the drawer.
111. Liability of acceptor for honour
An acceptor for honour binds himself to all parties subsequent to the party for whose honour he accepts to pay the amount of the bill if the drawee do not; and such party and all prior parties are liable in their respective capacities to compensate the acceptor for honour for all loss or damage sustained by him in consequence of such acceptance.
But an acceptor for honour is not liable to the holder of the bill unless it is presented, or (in case the address given by such acceptor on the bill is a place other than the place where the bill is made payable) forwarded for presentment, not later than the day next after the day of its maturity.
112. When acceptor for honour may be charged
An acceptor for honour cannot be charged unless the bill has at its maturity been presented to the drawee for payment, and has been dishonoured by him, and noted or protested for such dishonour.
113. Payment for honour
When a bill of exchange has been noted or protested for non-payment, any person may pay the same for the honour of any party liable to pay the same:
Provided that the person so paying or his agent in that behalf has previously declared before a notary public the party for whose honour he pays, and that such declaration has been recorded by such notary public.
114. Right of payer for honour
Any person so paying is entitled to all the rights in respect of the bill, of the holder at the time of such payment, and may recover from the party for whose honour he pays all sums so paid, with interest thereon and with all expenses properly incurred in making such payment.





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Note added at 2004-02-10 16:38:49 (GMT)
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Laws of New Zealand - ITC Services Online
... Acceptance and Payment for Honour. 65 Acceptance for honour supra protest 66 Liability
of acceptor for honour 67 Presentation to acceptor for honour 68 Payment ...
www.itc.gov.fj/lawnet/lawnetnz/nz_act/ bill_excha_1908-1995act.html - 23k - Cached - Similar pages



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Note added at 2004-02-10 16:41:02 (GMT)
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Bills of Exchange Act, [RS 1985, c. B-4]
... 149. Maturity of after-sight bill. 150. Requirements. 151. Liability
of acceptor for honour. 152. Payment for honour under protest. 153. ...
www.canlii.org/ca/sta/b-4/ - 98k - Cached - Similar pages
[ More results from www.canlii.org ]



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http://www.vakilno1.com/bareacts/negoinstruact/chapter2/s7.h...
7. \"Drawer\" drawee\".- The maker of a bill of exchange or cheque is called the \"drawer\"; the person thereby directed to pay is called the \"drawee\".

\"drawee in case of need\".- When in the bill or in any endorsement thereon the name of any person is given in addition to the drawee to be resorted to in case of need such person is called a \"drawee in case of need\".

\"acceptor\".- After the drawee of a bill has signed his assent upon the bill, or, if there are more parts thereof than one, upon one of such parts, and delivered the same, or given notice of such signing to the holder or to some person on this behalf, he is called the \"acceptor\".

\"acceptor for honour\".-When a bill of exchange has been noted or protested for non-acceptance or for better security, and any person accepts is supra protest for honour of the drawer or of any one of the endorsers, such person is called an \"acceptor for honor\".

\"Payee\".- The person named in the instrument, to whom or to whose order the money is by the instrument directed to be paid, is called the \"payee\".