What Is Drawee and Acceptor?
Drawee This Is the Person on Whom the Bill Is Drawn. 3. Acceptor This Is the Person Who Accepts the Bill. in Practice, the Drawee Is the Acceptor but a Third...
Drawee This is the person on whom the bill is drawn. 3. Acceptor This is the person who accepts the bill. In practice, the drawee is the acceptor but a third person may accept a bill on behalf of the drawee.
Is drawee and acceptor the same?
Acceptor: The person who accepts the bill. The drawee is normally the acceptor but a third person can accept a bill on behalf of the drawee. Bearer: the person who is in possession of a bill of exchange.
Who is drawer and acceptor?
The maker of a promissory note or cheque, the drawer of a bill of exchange until acceptance, and the acceptor are, in the absence of a contract to the contrary, respectively liable thereon as principal debtors, and the other parties thereto are liable thereon as sureties for the maker, drawer or acceptor, as the case ...
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