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Question
Answer the following question in one sentence only.
Who is Drawee?
Solution
The person on whom a bill is drawn is known as drawee. He is the purchaser or the debtor liable to pay the amount mentioned in the bill to the drawer. The bill of exchange is accepted by the drawee.
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RELATED QUESTIONS
A person who accepts the bill is called __________
There are _____ parties to a bill of exchange.
Answer in one sentence only.
Who is Drawer?
Give word / term or phrase for the following statement.
A person who draws a bill of exchange.
Give word / term or phrase for the following statement.
A person on whom a bill of exchange is drawn.
Answer the following question in one sentence.
Who is ‘Payee’ ?
Select the most appropriate alternative from those given below and rewrite the statement.
There are ____________ parties to the Bill of Exchange.
