ACCEPTOR SUPRA PROTEST
(bouvier) | ACCEPTOR SUPRA PROTEST, in contracts, is a third person, who, after protest
for non-acceptance by the drawee, accepts the bill for the honor of the
drawer, or of the particular endorser.
2. By this acceptance he subjects himself to the same obligations as if
the bill had been directed to him. An acceptor supra protest has his remedy
against the person for whose honor he accepted, and against all persons who
stand prior to that person. If he takes up the bill for the honor of the
endorser, he stands in the light of an endorsee paying full value for the
bill, and has the same remedies to which an endorsee would be entitled
against all prior parties, and he can, of course, sue the drawer and
endorser., 1 Ld. Raym. 574; 1 Esp. N. P. Rep. 112; Bayly on Bills, 209; 3
Kent. Com. 57; Chitty on Bills, 312. The acceptor supra protest is required
to give the same notice, in order to charge a party, which is necessary to
be given by other holders. 8 Pick. 1. 79; 1 Pet. R. 262. Such acceptor is
not liable, unless demand of payment is made on the drawee, and notice of
his refusal given. 3 Wend. 491.
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