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There really isnÕt a big difference between a drawer and drawee. A drawer is a person that draws out the money and a drawee is the person who will be receiving the money.
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What is 2 syllable or two syllable word?
Some examples of two syllable words are:- apple subway drawer, etc
A drawer contains 10 red socks and 10 black socks that are all mixed up. What is the fewest number of socks you can take from the drawer without looking and be sure to get a pair of the same color?
12
How many syllables in the word drawer?
1
What is the probability that a white sock would be pulled from a drawer that has all white sock in it?
100%. If there are only white socks in the drawer, then no other color will be drawn.
Can a paralleloelgram and a triangle have the same area give examples .?
A triangle twice as high as a parallelogram with the same base has the same area.
Meaning of drawer and drawee of cheque?
The DRAWER is the individual who issues the cheque, instructing the bank (DRAWEE) to pay the recipient (PAYEE). Drawer and payee can be the same person if it is a self cheque.
Whats is money order issuer or drawer?
The issuer of the order is the drawer, while the drawee is the person whom the drawer "pays to the order of" (Order receiver).
What is a banker's draught?
A banker's draught is a cheque whose drawer is also its drawee.
What is a banker's draft?
A banker's draft is a cheque whose drawer is also its drawee.
What is difference between drawee and drawer?
Drawer is the authorized person to make the note, check, bills of exchange etc. He is also known as maker of instrument(note,boe,check). Drawee is the person who makes the payment for the bill or instrument written.
Meaning of fictitious bill?
A bill in which the drawer or the payee or both are non existent. In such case the drawee or the acceptor is liable to pay the due amount to the holder in due course. The onus to prove that the drawer is fake lies on the endorsee. He can prove it by proving that the signature of drawer and first endorser are the same.
Can a drawee to a bill of exchange be the payee?
No,drawee is the person upon whom the bill the exchange is drawn. in general debtor is the drawee.drawer is the peson who sold the goods on credit. drawer make the bill of exchange upon the debtor.payee is the peson to whom the drawee make the payment according to the condition mention in the bill.drawer and payee may be the same person or different if the has been endorse to the creditor or discounted from the bank.___________________________________________________________________BILLS OF EXCHANGE IS AN INSTRUMENT IN WRITING,CONTAINING AN UNCODITIONAL ORDER,SIGN BY THE MAKER/DRAWER,DIRECTIONG A PERSON TO PAY A CERTAIN AMOUNT OF MONEY ONLY TO , OR TO THE ORDER OF A CERTAIN PERSON OR THE BEARER OF THE INSTRUMENT.IT IS GENERALLY DRAWN UPON A DEBTOR BY THE CREDITOR.THE DEBTOR HAS TO PAY THYE MONEY AFTER A FIXED DURATION OF TIME ONLY WHICH IS KNOWN AS MATURITY OF BILL.THREE PARTIES ARE INVOLVE IN THISONE IS THE DRAWER OR THE MAKER/SELLER OF THE BILL OF EXCHANGE WHO DRAW THE BILO UPON HIS DEBTOR.SECOND IS THE DRAWEE OR DEBTOR/PURCHASER UPON WHOM THE BILL OF EXCHANGE IS DRAWN.THIRD THE PAYEE THE PERSON TO WHOM THE PAYMENT HAS TO BE MADE.IF THE DRAWER KEEP THE BILL TILL THE MATURITY AND RECEIVE THE PAYMENT FROM THE DRAWEE HE HIMSELF IS THE PAYEE.PAYEE AND DRAWER ARE DIFFERENT IF1 THE DRAWER DISCOUNT THE BILL FROM HIS BANK(MEANS THAT IF THE BELL HAS BEEN DRAWN FOR THREE MONTHS AND THE DRAWER NEED THE MONEY IN BETWEEN HE MAY ENCASH THE BILL FROM THE BANK. BANK AFTER DEDUCTING SOME INTEREST GIVE THE REMAING AMOUNT TO THE DRAWER) OR2 DRAWER TRANSFER THE BILL TO HIS CREDITOR WHICH IS KNOWN AS ENDORSMENT OF BILL.IN CASE OF ANY OR BOTH OF THE ABOVE CONDITION THE PAYEE AND THE DRAWER ARE DIFFERNT EITHER THE BANK OR CREDITOR TO WHOM THE DRAWEE HAS TO MAKE THE PAYEMENT
What is 'Noting Charge'?
It is the amount paid by the drawer of the bill to the notary of a particular area who then warns the drawee of the bill to honour it in a specified time period.
Name the parties to a cheque?
drawer- the person who writes and sings the cheque . drawee- the bank on which the cheque is drawn . payee- the person named on the cheque .
How many parties involved in general check?
there are three parties. The drawer, the one who The drawee bank, who issued the check and the payee, the one who is entitled to own the check.
Can Demand Draft be dishonoured?
A Demand Draft is a cheque that contains an order of one branch of a bank ( Drawer branch ) directing another branch of the same bank ( Drawee branch ) to pay on demand a certain sum of money to a specified beneficiary ( Payee ) . It is an Account payee instrument, meaning it can only be credited to the account of the payee and cannot be encashed over the counter by the payee.A Demand Draft is a much safer and certain method of payment than cheques, since in the case of cheques, an individual is the drawer and hence the cheque can be dishonoured by the drawee bank due to insufficiency of funds in the drawer's account. But since in the case of a DD, the drawer is a bank, payment is certain and it cannot be dishonoured.
What is the meaning of drawee branch name?
Suppose a student wants to apply in a course in Delhi University. The university requires payment of the application fee to be done through a secure means, like a DD. In this case, the student would apply to his bank to get a DD issued favouring Delhi University. Suppose the student resides in Mumbai. Suppose he holds an account in a particular branch of SBI in Mumbai. In this case, this particular SBI branch in Mumbai would be the Drawer branch, a SBI branch located in Delhi ( typically the Service Branch ) would be the Drawee branch and Delhi University would be the payee.Since it is a cheque issued by a bank ( that is, drawer is a bank ) it does not carry the signatures of the customer, unlike the case of ordinary cheques which carry the signature of the customer ( who is the drawer ). Instead, a DD carries signatures of one or two bank officials, depending on the DD amount. The name of the Drawee branch is mentioned on the bottom left hand corner while the name of the Issuing ( Drawer ) branch is mentioned on the top left corner.Pay Orders, also called Local DDs or Bankers' cheques, are cheques where the drawer and the drawee branch is the same. These are used for local payments
