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Question
Give word / term or phrase for the following statement.
A person who draws a bill of exchange.
Solution
Drawer
Explanation: He is the seller or creditor entitled to receive money from someone. He writes or draws the bill and is known as drawer. The bill of exchange is signed by the drawer of the bill.
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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?
Answer the following question in one sentence only.
Who is Drawee?
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.
