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TeachMeFinance.com - explain Damages on protested bills historic definition... Damages on protested bills -- The penalty allowed by law to the holder of a bill (promissory note or acceptance) which has gone to protest. In most states these damages are in addition to the protest fee and also in addition to interest after maturity. 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.