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TeachMeFinance.com historic definition... Acceptance for honor -- Said when a party other than the drawee (the one drawn upon) accepts a bill (draft) which has not been honored by the drawee. The purpose is to save the honor (credit) of the drawer, who is looked to protect or reimburse the acceptor. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.