Acceptance for honour: where acceptance fails to specify the beneficiary, it is deemed to be for the drawer. Where an acceptance on a negotiable instrument does not specify for whose honour it is made, such acceptance is deemed to be for the honour of the drawer, ... Summary
Acceptance for honour: where acceptance fails to specify the beneficiary, it is deemed to be for the drawer.
Where an acceptance on a negotiable instrument does not specify for whose honour it is made, such acceptance is deemed to be for the honour of the drawer, supplying a statutory default allocation of the honour when the beneficiary is not expressly identified.
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