{"id":12128,"date":"2018-01-16T04:41:59","date_gmt":"2018-01-16T04:41:59","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=12128"},"modified":"2018-02-12T15:31:37","modified_gmt":"2018-02-12T15:31:37","slug":"drawee-the-person-upon-whom-a-draft-or-bill-of-exchange-is-drawn-the-person-to-whom-the-paper-is-presented-for-acceptance-and-payment-the-drawee-of-a-check-is-always-a-bank","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=12128","title":{"rendered":"Drawee – the person upon whom a draft or bill of exchange is drawn; the person to whom the paper is presented for acceptance and payment (the drawee is always a bank)"},"content":{"rendered":"

\u00a0\u00a0\u00a0 This page is continued from Legal Instruments<\/a> >>>> Negotiable Instruments<\/a>:<\/span>
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drawee<\/span>:<\/span><\/strong>
\n(18C)<\/span><\/p>\n

1. The person<\/a> or entity that a draft<\/a> is directed to and that is requested to pay the amount stated on it. UCC \u00a7 3-103(a)(4)<\/a>.\u00a0 *\u00a0 The drawee is usually a bank that is directed to pay a sum of money on an instrument<\/a>. UCC \u00a7 4-105(3)<\/a>.<\/strong> \u2014 aka payor<\/strong><\/em><\/span>; payor bank<\/strong><\/em><\/span>. [1]
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1. The person upon whom a draft<\/a> or bill of exchange<\/a> is drawn; the person to whom the paper is presented for acceptance and payment.<\/strong> [2]<\/span><\/p>\n

1. The person<\/a> upon whom a draft<\/a> is drawn; the person<\/a> to whom a draft<\/a> is presented for acceptance and payment.\u00a0 The drawee of a check is always a bank.<\/strong> [3]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is compiled in accordance with Fair Use<\/a><\/span><\/strong>.<\/strong><\/p>\n

[1]: Black\u2019s Law Dictionary\u00a0Deluxe Tenth Edition\u00a0by Henry Campbell Black & Editor in Chief Bryan A. Garner<\/a>. ISBN: 978-0-314-62130-6<\/span><\/strong><\/p>\n

[2]: Ballantine\u2019s Law Dictionary\u00a0<\/a><\/span><\/strong>with Pronunciations
\n<\/span><\/em>Third Edition<\/span><\/strong><\/a>\u00a0by James A. Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/span><\/strong><\/p>\n

[3]: Ballantine’s Law Dictionary <\/a><\/span><\/strong>Legal Assistant Edition<\/span><\/a><\/em>
\nby Jack Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Doctored<\/span><\/a><\/strong>\u00a0<\/span><\/em>by\u00a0Jack G. Handler,\u00a0J.D.<\/a>\u00a0\u00a9 1994 Delmar by Thomson Learning.\u00a0 ISBN 0-8273-4874-6.<\/span><\/strong><\/p>\n

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