In mercantile law and usage. To refuse or decline to accept a bill ofexchange, or to refuse or neglect to pay a bill or note at maturity. Shelton v. Braithwaite,7 Mees. & W. 430; Brewster v. Arnold, 1 Wis. 270.A negotiable instrument is dishonored when it is either not paid or not accepted, accordingto its tenor, on presentment for that purpose, or without presentment, wherethat is excused. Civ. Code Cal.

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