1
Question
Give word / term or phrase for each of the following statement.
A person on whom a bill of exchange is drawn.
A person on whom a bill of exchange is drawn.
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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.
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.
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