Question

Write True or False

Payee is official person appointed by Central government for noting of dishonour bill.

Answer 1

False

Explanation: A Notary Public is the official person appointed by the central government for noting a bill. He makes a note of the dishonour, i.e. when an acceptor refuses to make the payment. On the other hand, a payee is the person to whom the payment is to be made. A drawer or any other third party can be the payee to a bill of exchange.