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: refusal on the part of the issuer (as a bank) to pay or accept commercial paper (as a check) when it is presented see also wrongful dishonor
vt : to refuse to pay or accept [a bank ing the checks for insufficient funds]
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.