Acceptance for honor - Said when a party other than the drawee (the one drawn upon) accepts
a bill (draft) which has not been honored by the drawee. The purpose is to save the honor (credit)
of the drawer, who is looked to to protect or reimburse the acceptor.
a bill (draft) which has not been honored by the drawee. The purpose is to save the honor (credit)
of the drawer, who is looked to to protect or reimburse the acceptor.
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