Blacks Law Dict. 1st ed

ACCEPT

ACCESS

An engagement to pay the

Conditional.

ACCEPT. 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. ACCEPTANCE. The taking.and receiv ing 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 of fered or tendered by another, whereby he re ceives the thing with the intention of retain ing it, such intention being evidenced by a sufficient act. The acceptance of goods sold under a con tract which would be void by the statute of flauds without delivery and acceptance in volves 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 deliv ered as his property. He must receive and retain the articles delivered, intending there by to assume the title to them, to constitute the acceptance mentioned in the statute. 40 N. Y. 524. See, also, 10 Mete. 132. 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 suffi ciency 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. Bap. & Law. Acceptance of a bill of exchange. In mercantile law. The act by which the per son 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. 4 East, 57, 72; 2 Bl. Comm. 469. 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 "accept ance," 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 agree ment to pay the bill according to its tenor.

bill on the happening of a condition. Express. An absolute acceptance. Implied. from the acts or conduct of the drawee. Partial. tenor of the bill. Qualified. One either conditional or par tial, and which introduces a variation in the sum, time, mode, or place of payment. Special. One which specifies a particular place for payment. Supra protest. An acceptance by a third person, after protest of the bill for non-ac ceptance by the drawee, to save the honor of the drawer or some particular indorser. ACCEPTANCE AU BESOIN. 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 fail ure of the drawee to accept. Story, Bills, §§ 65, 254, 255. ACCEPTARE. 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. Gro. de J. B. lib. 2, c. 11, § 14. ACCEPTEUR PAR INTERVEN TION. In French law. Acceptor of a bill for honor. ACCEPTILATION. In the civil and Scotch law. A release made by a creditor to his debtor of his debt, without receiving any consideration. Ayl. Fand. 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 some thing merely imaginary in satisfaction of a verbal contract. Sanders' Just. Inst. (5th Ed.) 386. ACCEPTOR. The person who accepts a bill of exchange, (generally the drawee,) or who engages to be primarily responsible for its payment. ACCEPTOR SUPRA PROTEST. One who accepts a bill which has been protested, for the honor of the drawer or any one of the indorsers. ACCESS. Approach; or the means, pow er, or opportunity of approaching. Some An acceptance inferred by law An acceptance varying from the

Archive CD Books USA