Dishonor definition

Dishonor of a letter of credit means failure timely to honor or to take an interim action, such as acceptance of a draft, that may be required by the letter of credit.
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Dishonor of a letter of credit means failure timely to honor or to take an interim action, such
Sample 1Sample 2Sample 3
Dishonor of a letter of credit means failure timely to honor
Sample 1Sample 2Sample 3

Examples of Dishonor in a sentence

  • Borrower and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.

  • I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.

  • Dishonor of drafts and Cheques given by Licensee in favour of Maha-Metro.

  • Unit 3: BANKING OPERATIONS 18 HrsCollecting Banker: Meaning – Duties & Responsibilities of Collecting Banker – Holder for Value – Holder in Due Course - Statutory Protection to Collecting Banker Paying Banker: Meaning – Precautions – Statutory Protection to the Paying Banker – Dishonor of Cheques – Grounds of Dishonor – Consequences of wrongful dishonor of Cheques.

  • Borrower waives the rights of Presentment and Notice of Dishonor.


More Definitions of Dishonor

Dishonor of a letter of credit means failure
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Dishonor of a letter of credit means failure timely to honor or to take an interim action, such as acceptance of a draft, that may be required by the letter of credit. "Document" means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion (i) which is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in § 57A-5-108(e) and (ii) which is capable of being examined for compliance with the terms and conditions of the letter of credit. A document may not be oral. "Good faith" means honesty in fact in the conduct or transaction concerned. "Honor" of a letter of credit means performance of the issuer's undertaking in the letter of credit to pay or deliver an item of value. Unless the letter of credit otherwise provides, "honor" occurs
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Dishonor means non-payment or non-acceptance of an instrument which was created according to this Law.
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Dishonor means a financial institution that refuses to honor an instrument upon the presentation, and after preparing a memo stating the reason for rejection, returns the instrument, together with the above mentioned memo, to the holder of the instrument.
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Dishonor of a letter of credit means failure timely to honor or to take an interim
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Dishonor means an instrument or credit card is dishonored when it has been duly presented by the City and due acceptance or payment is refused or if presentment is excused and the instrument or credit card is not duly accepted or paid. Return of an instrument for lack of proper endorsement is not dishonor.
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Dishonor means failure to make timely payment under a letter of credit.
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