Dishonor by non-payment - How To Discuss
By Andrew Mckinney |
Dishonor by non-payment,
Definition of Dishonor by non-payment:
Failure of a drawee to pay a valid bill of exchange on its due date. This failure gives the drawer the legal right to the start a court action called protest.
Failure of a drawer to pay a valid check on presentment. In many jurisdictions, the drawer of a check that is dishonored due to insufficient funds is guilty of a criminal offense.
Meaning of Dishonor by non-payment & Dishonor by non-payment Definition