acceptance
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Acceptance

Contractual agreement instigated when the drawee of a time draft "accepts" the draft by writing the word "accepted" thereon. The drawee assumes responsibility as the acceptor and for payment at maturity. See: Letter of credit and banker's acceptance.

Banker's Acceptance

Short-term debt obligations that are secured by banks. That is, a bank promises to pay a creditor if a borrower defaults. It is also called a documented discount note.

acceptance

See banker's acceptance.

acceptance

(1) The act of receiving something with the intention of retaining it.Transfer of title to real estate requires acceptance of the title.(One cannot secretly deed a toxic waste site to an enemy in hopes that the Environmental Protection Agency will make that person handle the cleanup.) (2) The act of agreeing to the terms and conditions of an offer,creating a contract by virtue of the acceptance.

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acceptance (redirected from Types of Acceptance)

acceptance
(redirected from Types of Acceptance)