Ac`cept´or Pronunciation: #; 277
ACCEPTOR, contracts. The person who agrees to pay a bill of exchange drawn
upon him. There cannot be two separate acceptors of a bill of exchange, e.
g. an acceptance by the drawee, and another for the honor of some party to
the bill. Jackson v. Hudson, 2 Campb. N. P. C. 447.
2. The acceptor of a bill is the principal debtor, and the drawer the
surety. He is bound, though he accepted without consideration, and for the
sole accommodation of the drawer. By his acceptance he admits the drawer's
handwriting, for, before acceptance it was incumbent upon him to inquire
into the genuineness of the drawer's handwriting. 3 Burr. 1354; 1 Bla. Rep.
390, S. C.; 4 Dall. 234; 1 Binn. 27, S. C. When once made, the obligation of
the acceptor is irrevocable. As to what amounts to an acceptance, see ante,
Acceptance; Chitty on Bills, 242, et. seq.; 3 Kent, Com. 55, 6; Pothier,
Traite du Contrat de Change, premiere part. n. 44.
3. The liability of the acceptor cannot in general be released or
discharged, otherwise than by payment, or by express release or waiver, or
by the act of limitations. Dougl. R. 247. What amounts to a waiver and
discharge of the acceptor's liability, must depend on the circumstances of
each particular case. Dougl. 236, 248; Bayl. on Bills, 90; Chitty on Bills,
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