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Question
______ is a person to whom the amount on a bill is payable.
______ is a person to whom the amount on a bill is payable.
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Solution
The correct option is C Payee
In simple words, it is always drawn by the creditor on the debtor. The person who draws is known as the 'drawer' and the person on whom it is drawn is known as the 'drawee' or 'acceptor'. The person to whom the amount of money is payable to is known as the 'payee'
In simple words, it is always drawn by the creditor on the debtor. The person who draws is known as the 'drawer' and the person on whom it is drawn is known as the 'drawee' or 'acceptor'. The person to whom the amount of money is payable to is known as the 'payee'
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