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accommodation
Значение термина accommodation в knolik
accommodation - Accommodation
accommodation - Term in English law, generally applied to a bill of exchange or promissory note which is executed by the parties thereto, so as to enable one or all of them to discount it, and so raise money. It is colloquially called flying a kite. A bill of exchange drawn by A upon B and accepted by B ought to mean that B owes A money, and the bill is a document whereby B pledges himself to pay that money. But in the case of an accommodation bill, A draws a bill for (say) £100 on B; B writes across it " accepted," and signs it. A then takes the document to a bill discounter, or a bank, and, on the strength of B's acknowledgement of indebtedness and promise to pay, discounts the bill for ready money - generally the full £100 less 5 per cent, or therea.bouts. When the bill becomes due the holder can claim the £100 against B or A. It is a device to raise money by pledging one's credit. As between A and B, if B pays the £100 to the holder, and A has had the money for the discount, A must indemnify B. The word accommodation is also used in a wider sense, meaning to lend money generally, for instance the accommodation afforded by a banker to a customer.
Рядом со словом accommodation в knolik
| accolade | В начало буква "" буквосочетание "" | accommodation |
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