Drawee - Law Dictionary Search Results
Honour
1925 (15 & 16 Geo. 5, c. 72). To honour a bill of exchange or cheque (of the drawee, etc.); to pay.
Sets of Exchange, or of Bills
miscarriage of the bill, and to enable the holder to transmit the same by different conveyances to the drawee, so as to ensure the most speedy presentment for acceptance and payment. The general usage in England and
Retour sans protet
or direction by a drawer of a bill of exchange, that should the bill be dishonoured by the drawee, if may be returned without protest or without expense (sans frais), Byles on Bills.
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Liability of drawer
drawer, the drawer of a bill of exchange or cheque is bound, in case of dishonour by the drawee thereof, to compensate the holder, provided due notice of dishonour has been given to, or received by, the
bank
bank) that either accepts demand deposits or makes commercial loans payor bank : a bank that is the drawee of a draft presenting bank : a bank other than a payor bank that presents a negotiable instrument
Drawer
Drawer, the person making a bill of exchange and addressing it to the drawee. By the Bills of Exchange Act, 1882, s. 21, capacity to draw is co-extensive with capacity to contract
Acceptor
Acceptor, After the drawee of bill has signed his assent upon the bill, or if there are more parts thereof than, one
payee
of exchange, note, or check as the one to whom the amount is directed to be paid compare drawee, drawer
drawer
drawer : the party that draws a draft compare drawee, payee
draft
: an order for the payment of money drawn by one person or bank on another see also drawee, drawer compare check documentary draft : a draft that will be honored only upon the presentation of certain
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