Question

Payee is the person named in the bill of exchange to whom the amount is payable.

• A. True
• B. False

Answer 1

The correct option is A True

A bill of exchange transaction can involve up to three parties. The drawee is the party that pays the sum specified by the bill of exchange. The payee is the one who receives that sum. The drawer is the party that obliges the drawee to pay the payee.