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Co-Maker

name accommodation person pay

One who becomes obligated, an obligor, under a negotiable instrument—such as a check or promissory note—by signing his or her name along with the name of the original obligor, thereby promising to pay on it in full.

A co-maker is a type of accommodation party, who is someone who has signed a COMMERCIAL PAPER to aid someone wishing to raise money on it. An accommodation party lends his or her name to another person and makes a promise to pay the bill or note when it is due if the other person defaults.

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