When a bill of exchange, a promissory note, or check is submitted but will not be accepted this will be assigned to indicate that the negotiable instrument cannot be used as a form of payment

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser