The Law Dictionary

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NOTICE OF DISHONOR Definition & Legal Meaning

Definition & Citations:

When a negotiable bill or note is dishonored by nonacceptance onpresentment for acceptance, or by non-payment at its maturity, it is the duty of theholder to give immediate notice of such dishonor to the drawer, if it be a bill, and to theindorser, whether it be a bill or note. 2 Daniel, Neg. Inst.

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