Legal Definitions - go to protest

GO TO PROTEST

When a commercial paper, such as a draft, is not paid or accepted, it is said to "go to protest". This means that the paper has been dishonored and the holder of the paper can take legal action to collect the money owed.

John received a draft from his client, but when he tried to cash it at the bank, it was not accepted. The bank stamped the draft as "protested" and John had to take legal action to collect the money owed to him.

Another example could be a company issuing a check to a supplier, but the check bounces due to insufficient funds. The supplier can then "protest" the check and take legal action to collect the money owed.

These examples illustrate how a commercial paper can "go to protest" when it is not paid or accepted, and how the holder of the paper can take legal action to collect the money owed.