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Related to accommodation party: accommodation endorser
One who signs a promissory note even though he or she receives no direct economic benefit from it.Typically, a financially strong party who must add his or her name to the transaction or the true borrower would not qualify for the loan. There is a widespread and mistaken belief among accommodation parties that they simply signed their name but will not be held responsible if the loan goes into default. This is incorrect; they will be held liable for the full amount of the loan if there is a default.(Do not confuse with accommodating party.)