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accommodation maker:
(1829)
1. Someone who signs a note as a surety. See ACCOMMODATION (2); accommodation indorser under INDORSER. [1]
1. The drawer of a bill, or the maker of a note, to which he has put his name for the purpose of accommodating, by a loan of his credit, some other person who is to provide for the bill or note when it falls due. 11 Am J2d B & N § 121. [2]
1. See accommodation paper. [3]
accommodation paper:
1. A bill or note signed as a favor to another person, known as the accommodated party, to enable that person to receive a loan. The person who grants the favor is the accommodation party or accommodation maker. If the accommodated party and the accommodation party sign jointly, they are non as comakers. If the accommodated party defaults on the note, the accommodation party is fully liable. [3]
References:
Disclaimer: All material throughout this website is compiled in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black & Editor in Chief Bryan A. Garner. ISBN: 978-0-314-62130-6
[2]: Ballantine’s Law Dictionary with Pronunciations
Third Edition by James A. Ballantine (James Arthur 1871-1949). Edited by William S. Anderson. © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY. Library of Congress Catalog Card No. 68-30931
[3]: Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine (James Arthur 1871-1949). Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning. ISBN 0-8273-4874-6.
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