drawee

   The party (e.g., a bank) that is instructed to make a payment on a bill of exchange or check. Sometimes the term is used to mean the person or entity that is to receive payment, but this is usually known as the payee.

Business law dictionary. 2015.

Look at other dictionaries:

  • drawee — draw·ee /drȯ ē/ n: the party (as a bank) on which a draft is drawn compare drawer, payee Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • drawee — draw*ee , n. (Law) The person on whom an order or bill of exchange is drawn; the correlative of drawer. [1913 Webster] …   The Collaborative International Dictionary of English

  • drawee — [drô΄ē′] n. the party that the drawer directs, by means of a bill of exchange, order, draft, etc., to pay money over to a third party (called payee) …   English World dictionary

  • drawee — The party to whom a check or draft is written. Also called payee. American Banker Glossary The party who is directed to pay as specified in a draft. Bloomberg Financial Dictionary * * * drawee draw‧ee [ˌdrɔːˈiː ǁ ˌdrɒː ] noun [countable] BANKING …   Financial and business terms

  • drawee — The person on whom a bill or draft is drawn. A person to whom a bill of exchange or draft is directed, and who is requested to pay the amount of money therein mentioned. The drawee of a check is the bank on which it is drawn. When drawee accepts …   Black's law dictionary

  • drawee — 1) The person on whom a bill of exchange is drawn (i.e. to whom it is addressed). The drawee will accept it and pay it on maturity. 2) The bank on whom a cheque is drawn, i.e. the bank holding the account of the individual or company that wrote… …   Accounting dictionary

  • drawee — 1) The person on whom a bill of exchange is drawn (i. e. to whom it is addressed). The drawee will accept it (see acceptance) and pay it on maturity. 2) The bank on whom a cheque is drawn, i. e. the bank holding the account of the individual or… …   Big dictionary of business and management

  • drawee — noun Date: 1766 the party on which an order or bill of exchange is drawn …   New Collegiate Dictionary

  • drawee — /draw ee /, n. Finance. a person on whom an order, draft, or bill of exchange is drawn. [1760 70; DRAW + EE] * * * …   Universalium

  • drawee — noun The party directed to pay the amount of a draft or check. See Also: drawer …   Wiktionary

  • drawee — draw·ee || drɔː iː n. person from whom money is taken to pay another …   English contemporary dictionary

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