Advertisements
Advertisements
Question
Give word / term or phrase for the following statement.
A person on whom a bill of exchange is drawn.
Solution
Drawee
Explanation: The person on whom the bill is drawn, and who is required to pay the amount mentioned in the bill, is called drawee. He is the purchaser or the debtor and is liable to make payment to the drawer.
APPEARS IN
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 who draws a bill of exchange.
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.
