secondary party

secondary party. Commercial law.

1. A party not primarily liable under an instrument, such as a guarantor. [Cases: Bills and Notes 49; Guaranty 33. C.J.S. Bills and Notes; Letters of Credit§§ 24–25.]

2. The drawer or indorser of a negotiable instrument.

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词条贡献者

双语律师Shifang，知名法学院法律专业，擅长翻译各类与企业改组和重组相关的法律文件。