Co-Maker
CO-MAKER
One who becomes obligated, an obligor, under a negotiable instrument—such as a check or promissory note—by signing his or her name along with the name of the original obligor, thereby promising to pay on it in full.
A co-maker is a type of accommodation party, who is someone who has signed acommercial paperto aid someone wishing to raise money on it. An accommodation party lends his or her name to another person and makes a promise to pay the bill or note when it is due if the other person defaults.
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Promissory Note , PROMISSORY NOTE
A written, signed, unconditional promise to pay a certain amount of money on demand at a specified time. A written promise to pay mon… Paxton's Case Gray, Mass. Repts., 51 469 (1761) , pay1 / pā/ • v. (past paid ) 1. [tr.] give (someone) money that is due for work done, goods received, or a debt incurred: [tr.] he paid the locals to… Maker , maker •acre, baker, breaker, Chandrasekhar, faker, forsaker, Jamaica, Laker, maker, nacre, partaker, Quaker, raker, saker, shaker, staker, taker, und… Promise , prom·ise / ˈpräməs/ • n. a declaration or assurance that one will do a particular thing or that guarantees that a particular thing will happen: what… Commercial Paper , A written instrument or document such as a check, draft, promissory note, or a certificate of deposit, that manifests the pledge or duty of one indiv… Bill Of Exchange , BILL OF EXCHANGE
A three-party negotiable instrument in which the first party, the drawer, presents an order for the payment of a sum certain on a se…
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Co-Maker