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Parties of BOE

The party whi...

Question

The party which is ordered to pay the amount of bill of exchange is called :

A

Drawer

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B

Drawee

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C

Payee

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D

None of the above

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Solution

The correct option is B
Drawee

The party which is ordered to pay the amount of bill of exchange is called Drawee.

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Identify which of the following is true and which is false.
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Q. In a bill of exchange, there are three parties, drawer, drawee and payee.
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The bill is drawn as an order to drawee to pay certain amount to payee. If drawee refuses to honour the bill, another person may be named in the bill itself, as _____.

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Which of following is/are essentials of a bill of exchange?
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(II) It must be signed by the drawer.
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Q. Prepare a specimen of Bill of Exchange from the following information:
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205, New Bazer,
Amaravati.
2. Drawee - Shri Jairam Purohit,
Hiwarkheda Road,
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3. Payee - Shri Rohit Joshi,
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4. Period of bill - 3 month
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25^{t h}

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7. Date of acceptance -

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