accommodation paper

accommodation paper. A negotiable instrument that one party cosigns, without receiving any consideration, as surety for another party who remains primarily liable. • An accommodation paper is typically used when the cosigner is more creditworthy than the principal debtor. — Also termed accommodation bill; accommodation note. [Cases: Bills and Notes 49, 96. C.J.S. Bills and Notes; Letters of Credit §§ 24–25, 63.]

---

词条贡献者

译员圣强，国际仲裁与争端解决专业，专注翻译各种与跨境争议有关的法律文件。