Dishonor

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Dishonor

A refusal to pay.

Dishonor

To refuse payment on a check, receipt, or some other document demanding payment. One usually dishonors a document if there is something irregular about it, such as a check drawn with insufficient funds. See also: Honor.

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References in periodicals archive ?

While there is a limited fraud exception to this rule, the issuing bank will not find it easy to invoke fraud as a ground for dishonoring a letter of credit draw, as Concord had discovered.

The beneficiary cannot rely on an issuing bank's error in untimely or improperly dishonoring a letter of credit draw or disposing of documents presented by the beneficiary as justification for relieving the beneficiary of the consequences of submitting nonconforming documents.

Letter of credit beneficiary beats issuing bank based on conforming documents and untimely and improper dishonor