Saved Bookmarks
| 1. |
Who are the parties to a bill of exchange ? |
|
Answer» There are three parties to a bill of exchange: 1. Drawer – He is the creditor who draws a bill of exchange upon the debtor. 2. Drawee – He is the person upon whom the bill of exchange is drawn. He is the purchaser of the goods on credit and the debtor. 3. Payee – He is the person to whom payment of the bill is to be made on the maturity date. The drawer and the payee can be one party when payment is to be made to the drawer. |
|