Waiver Of Demand

Waiver Of Demand
An agreement by the party that has endorsed a check or draft to accept legal responsibility, without being formally notified, should the original issuer of the check or draft default. The waiver of demand may be express or implied; it may also be oral or written unless oral waivers are specifically prohibited by law.

The term also refers to a bank's waiver of its right to formal notification when it presents short-term negotiable debt instruments such as drafts or banker's acceptances to a Federal Reserve bank for rediscounting. In such instances, the Federal Reserve considers the bank's endorsement as a "waiver of demand, notice and protest" if the original issuer defaults on its debt obligation.


Investment dictionary. . 2012.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • waiver — The intentional or voluntary relinquishment of a known right, or such conduct as warrants an inference of the relinquishment of such right, or when one dispenses with the performance of something he is entitled to exact or when one in possession… …   Black's law dictionary

  • Visa Waiver Program — The Visa Waiver Program (VWP) is a program of the United States of America which allows citizens of specific countries to travel to the US for tourism or business for up to 90 days without having to obtain a visa. All countries participating in… …   Wikipedia

  • Lien waiver — In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materialmen, equipment lessor or other party to the construction project stating they have received payment and waive any future lien rights to the… …   Wikipedia

  • ОТКАЗ ОТ ПРОТЕСТА ВЕКСЕЛЯ — WAIVER OF DEMANDЕсли вексель не оплачен, то для привлечения к ответственности сторон, несущих вторичную ответственность, требуется предъявление векселя (предъявление векселя для акцептирования, предусмотренное траттой, или если тратта… …   Энциклопедия банковского дела и финансов

  • South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… …   Wikipedia

  • HUSBAND AND WIFE — The act of marriage creates certain rights and duties between husband and wife. In performing them, both parties have to conduct themselves according to the following rules, comprising the fundamental principles for the relationship between… …   Encyclopedia of Judaism

  • TAXATION — This article is arranged according to the following outline: historical aspects legal aspects the biblical period the talmudic period the post talmudic period in general yardsticks of tax assessment taxable property Place of Residence, Business,… …   Encyclopedia of Judaism

  • U.S.–India Civil Nuclear Agreement — U.S. President George W. Bush and India s Prime Minister Manmohan Singh exchange handshakes in New Delhi on March 2, 2006. The 123 Agreement signed between the United States of America and the Republic of India is known as the U.S. India Civil… …   Wikipedia

  • 2007–2008 Writers Guild of America strike — Articles Effects on Television AMPTP  • WGAW  • WGAE …   Wikipedia

  • education — /ej oo kay sheuhn/, n. 1. the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life. 2. the act or process of… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”