acceptance


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Related to acceptance: self acceptance, Acceptance testing

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

acceptance

see CONTRACT.

acceptance

the process of guaranteeing a loan, which takes the form of a BILL OF EXCHANGE that will be repaid even if the original borrower is unable to pay. This is done by a commercial institution which signs, that it ‘accepts’, the bill drawn up by the borrower in return for a fee. See ACCEPTING HOUSE.

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.

References in periodicals archive ?
a minimum of $300,000 shall be incurred within 12 months following the Acceptance Date with at least 50% to be spent directly on drilling;
Clearly, no overall consensus exists on the acceptance of gratuities or even what constitutes a gratuity.
Negative social behavior predicted negative peer group acceptance and negative friendship quality.
There is no generally used acceptance criteria for liquid penetrant or magnetic particle inspections.
The purpose of this study was to investigate the relationship between one's assertive behavior levels and acceptance of disability.
Some studies show that 8- 12-year-olds see acceptance as more important in their self-evaluations than competence in areas such as athletics or school achievement.