accommodated party

Definition of "accommodated party"
  1. This is a person or entity who gets the benefits when another party agrees to be legally responsible for an instrument, such as a loan or promise to pay
How to use "accommodated party" in a sentence
  1. The accommodated party needed an individual with a more established credit history to co-sign their loan application.
  2. The bank took on the role of the accommodated party, relying on the accommodation party to uphold the agreement.
  3. As the accommodated party, they benefitted from the bond's established by the accommodation party.

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