Acceptor supra protest is a legal term that is used in commercial law. It refers to a situation where a bill of exchange has been accepted by the drawee, but the acceptance has been made after the bill has been protested. In this article, we will explore the definition and meaning of acceptor supra protest, its origin, its associations, synonyms, and antonyms, as well as some example sentences.
Definitions
Acceptor supra protest is a term that is used in commercial law to describe a situation where a bill of exchange has been accepted by the drawee after it has been protested. The term supra protest means ‘above protest’ in Latin. It is used to indicate that the acceptance of the bill of exchange was made after the protest had been made.
Origin
The term acceptor supra protest has its roots in the law of bills of exchange, which has been in existence since the Middle Ages. The law of bills of exchange was developed to facilitate international trade by providing a system for the exchange of funds between merchants in different countries. The term supra protest was first used in the 18th century to describe the situation where a bill of exchange had been accepted after it had been protested.
Meaning in different dictionaries
The term acceptor supra protest is not commonly used outside of legal circles, so it may not be found in all dictionaries. However, some legal dictionaries define the term as follows:
- Black’s Law Dictionary: “An acceptor who accepts a bill of exchange after it has been protested for non-payment.”
- Bouvier’s Law Dictionary: “An acceptor of a bill of exchange, who accepts it after it has been protested for non-acceptance or non-payment.”
Associations
Acceptor supra protest is a term that is closely associated with the law of bills of exchange, which is a branch of commercial law. It is also associated with international trade, as bills of exchange are often used in the payment of international transactions.
Synonyms
There are no direct synonyms for the term acceptor supra protest. However, some related terms include:
- Protested bill: A bill of exchange that has been protested for non-payment or non-acceptance.
- Non-acceptance: A situation where the drawee of a bill of exchange refuses to accept it.
- Non-payment: A situation where the drawee of a bill of exchange accepts it but fails to make payment on the due date.
Antonyms
There are no direct antonyms for the term acceptor supra protest. However, some related terms include:
- Accepted bill: A bill of exchange that has been accepted by the drawee.
- Non-protested bill: A bill of exchange that has not been protested for non-payment or non-acceptance.
The same root words
The term acceptor supra protest is derived from the Latin words supra, which means ‘above,’ and protest, which refers to the formal declaration of non-payment or non-acceptance of a bill of exchange. The term acceptor refers to the party who accepts the bill of exchange, usually the drawee.
Example Sentences
Here are some example sentences that illustrate the use of the term acceptor supra protest:
- The bill of exchange was accepted by the drawee supra protest, which meant that the acceptance was made after the bill had been protested for non-payment.
- The bank refused to honor the bill of exchange because it had been accepted supra protest.
- The seller was forced to resort to legal action when the buyer accepted the bill of exchange supra protest and failed to make payment on the due date.