Examlex
A backward integration takes information entered into a given system and sends it automatically to all downstream systems and processes.
Accommodation Party
An individual who signs a loan or credit application on behalf of another, promising to pay if the primary borrower fails to do so.
Maker
A person who promises to pay a set sum to the holder of a promissory note or certificate of deposit.
Drawer
The party in a transaction that issues or writes a check or draft, instructing their bank to pay a specified sum to a certain beneficiary.
Notice Of Dishonor
A formal notification that a negotiable instrument, like a check, has been refused payment and is dishonored.
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