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Double-Name Paper

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DOUBLE-NAME PAPER, notes, bills of exchange or ac ceptances bearing two names, each of which represents a separate interest and each of which is responsible for the payment. The names may represent a signature and an endorsement, or two signatures. The former class is often known as endorsed paper, and both classes are commonly known as two-name paper. Trade acceptances and bankers' acceptances necessarily have two or more names and both the drawer and the acceptor are liable for the payment. (See ACCEPTANCE; BILL OF EXCHANGE; NOTE; DRAFTS.)