The party which is entitled to receive the payment of bill of exchange is known as :

Drawer

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Drawee

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Payee

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None of the above

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Solution

The correct option is C
Payee

The party which is entitled to receive the payment of bill of exchange is known as Payee.

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Similar questions

Q.
Identify which of the following is true and which is false.
P. A promissory note is a three-party instrument.

Q. In a bill of exchange, there are three parties, drawer, drawee and payee.
R. A promissory note can be made payable to the maker himself.
S. In a bill of exchange, the drawer and payee may be the same person.

Select the correct answer from the options given below-

P Q R S

Q. The is entitled to receive the payment of bill of exchange.

In case of a bill of exchange, the drawee is entitled to have three days for making payment of the bill but in case of a _____________ is always payable on demand.

Q. A bill of exchange is drawn by the drawer upon his drawee.

Drawer and Payee can be the same person in case of a bill of exchange. Is the statement true?

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The party which is entitled to receive the payment of bill of exchange is known as :

The correct option is C Payee The party which is entitled to receive the payment of bill of exchange is known as Payee.

The correct option is C
Payee

The party which is entitled to receive the payment of bill of exchange is known as Payee.