Legal Term Dictionary

The shortening of the time for the vesting in possession of an expectant interest.

The shortening of the time for the vesting in possession of an expectant interest. Less...

To receive with approval or satisfaction; to receive with intent to retain. Also, in the capacity of drawee of a bill, to recognize the draft and engage to pay it when due.

To receive with approval or satisfaction; to receive with intent to retain. Also, in the capacity of drawee of a bill, to recognize the draft and engage to pay it when due. Less...

The taking and receiving of anything in good part and as it were a tacit agreement to a preceding act which might have been defeated or avoided if such acceptance had not been made. Brooke, Abr. The act of a person to whom a thing is offered or tendered by More...

The taking and receiving of anything in good part and as it were a tacit agreement to a preceding act which might have been defeated or avoided if such acceptance had not been made. Brooke, Abr. The act of a person to whom a thing is offered or tendered by another, whereby he receives the thing with the intention of retaining it, such intention being evidenced by a sufficient act. The acceptance of goods sold under a contract which would be void by the statute of frauds without delivery and acceptance involves something more than the act of the vendor in the delivery. It requires that the vendee should also act, and that his act should be of such a nature as to indicate that he receives and accepts the goods delivered as his property. He must receive and retain the articles delivered, intending thereby to assume the title to them, to constitute the acceptance mentioned in the statute. Rodgers v. Phillips. 40 N. Y. 524. See, also, Snow v. Warner, 10 Mete. (Mass.) 132, 43 Am. Dec. 417. In marine insurance, the acceptance of an, abandonment by the underwriter is his assent, either express or to be implied from the surrounding circumstances, to the sufficiency and regularity of the abandonment. Its effect is to perfect the insured's right of action as for a total loss, If the cause of loss and circumstances have been truly disclosed. Rap. & Law. Acceptance of a bill of exchange. In mercantile law. The act by which the person on whom a bill of exchange is drawn (called the "drawee") assents to the request of the drawer to pay it, or, in other words, engages, or makes himself liable, to pay it when due. 2 Bl. Comm. 469; Cox v. National Bank, 100 U. S. 704, 25 I Ed. 739. It may be by parol or in writing, and either general or special, absolute or conditional; and it may be impliedly, as well as expressly, given. 3 Kent, Comm. 83, 85; Story, Bills, §§ 238, 251. But the usual and regular mode of acceptance is by the drawee's writing across the face of the bill the word "accepted" and subscribing his name; after which he is termed the acceptor. Id. § 243. The following are the principal varieties of acceptances: Absolute. An express and positive agreement to pay the bill according to its tenor. Conditional. An engagement to pay the bill on the happening of a condition. Todd v. Bank of Kentucky, 3 Bush (Ky.) 628. Express. An absolute acceptance. Implied. An acceptance inferred by law from the acts or conduct of the drawee. Partial. An acceptance varying from the tenor of the bill. Qualified. One either conditional or partial, and which introduces a variation in the sum, time, mode, or place of payment. Supra protest. An acceptance by a third person, after protest of the bill for non-acceptance by the drawee, to save the honor of the drawer or some particular indorser. A general acceptance is an absolute acceptance precisely in conformity with the tenor of the bill itself, and not qualified by any statement, condition, or change. Rowe v. Young, 2 Brod. & B. 180; Todd v. Bank of Kentucky, 3 Bush (Ky.) 628. A special acceptance is the qualified acceptance of a bill of exchange, as where it is accepted as payable at a particular place "and not elsewhere." Rowe v. Young, 2 Brod. & B. 180. Less...

Fr. In French law. Acceptance in case of need; an acceptance by one on whom a bill is drawn au besoin, that is, in case of refusal or failure of the drawee to accept Story, Bills, f§ 65, 254, 255.

Fr. In French law. Acceptance in case of need; an acceptance by one on whom a bill is drawn au besoin, that is, in case of refusal or failure of the drawee to accept Story, Bills, f§ 65, 254, 255. Less...

Lat. In old pleading. To accept. Acceptavit, he accepted. 2 Strange, 817. Non acceptavit, he did not accept 4 Man. & G. 7. In the civil law. To accept; to assent;to assent to a promise made by another. Cro. de J. B. lib. 2, c. 11, § 14.

Lat. In old pleading. To accept. Acceptavit, he accepted. 2 Strange, 817. Non acceptavit, he did not accept 4 Man. & G. 7. In the civil law. To accept; to assent;to assent to a promise made by another. Cro. de J. B. lib. 2, c. 11, § 14. Less...

In French law. Acceptor of a bill for honor.

In French law. Acceptor of a bill for honor. Less...

In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. Ayl. Pand, tit 26. p. 570. It is a species of donation, but not subject to the forms of the latter, and is valid unless in fraud of More...

In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. Ayl. Pand, tit 26. p. 570. It is a species of donation, but not subject to the forms of the latter, and is valid unless in fraud of creditors. Merl. Repert. The verbal extinction of a verbal contract, with a declaration that the debt has been paid when it has not; or the acceptance of something merely imaginary in satisfaction of a verbal contract. Sanders' Just. Inst (5th Ed.) 386. Less...

The person who accepts a bill of exchange, (generally the drawee,) or who engages to be primarily responsible for its payment.

The person who accepts a bill of exchange, (generally the drawee,) or who engages to be primarily responsible for its payment. Less...

One who accepts a bill which has been protested, for the honor of the drawer or any one of the indorsers.

One who accepts a bill which has been protested, for the honor of the drawer or any one of the indorsers. Less...

Approach; or the means, power, or opportunity of approaching. Sometimes importing the occurrence of sexual intercourse; otherwise as importing opportunity of communication for that purpose as between husband and wife. In real property law, the term "access" denotes the right vested in the owner of land which adjoins a road More...

Approach; or the means, power, or opportunity of approaching. Sometimes importing the occurrence of sexual intercourse; otherwise as importing opportunity of communication for that purpose as between husband and wife. In real property law, the term "access" denotes the right vested in the owner of land which adjoins a road or other highway to go and return from his own land to the highway without obstruction. Chicago, etc., R. Co. v. Milwaukee, etc., R. Co., 95 Wis. 561, 70 N. W. B78, 37 L. R. A. 856, 60 Am. St Rep. 136; Ferguson v. Covington, etc.; R Co., 108 Ky. 662, 57 S. W. 460; Reining v. New York, etc., R. Co. (Super. Buff.) 13 N. Y. Supp. 238. Less...