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Paying The Holder
The act of disbursing funds or settling a financial obligation to the lawful possessor of a negotiable instrument.
Indorses
To sign one's name on a document, especially on the back of a check or negotiable instrument, to make it payable to someone other than the stated payee or to accept responsibility.
Discharged From Liability
The release of a debtor from the obligation to repay a debt, usually following a legal process such as bankruptcy proceedings.
Dishonor
Failure to fulfill an obligation, especially the non-payment of a check or negotiable instrument when it is presented for payment.
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