take up, vb.
1. To pay or discharge (a note). [Cases: Bills and Notes 428, 436. C.J.S. Bills and Notes; Letters of Credit¡ì¡ì 100, 231, 234¨C236, 238, 240, 242, 244¨C248.]
2. To retire (a negotiable instrument); to discharge one’s liability on (a negotiable instrument), esp. the liability of an indorser or acceptor.
3. To purchase (a note).
What is the preferred translation of the term TAKE UP by Chinese lawyers?
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