drawee

American  

[draw-ee] / drɔˈi /

noun

Finance.

1. a person on whom an order, draft, or bill of exchange is drawn.

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drawee British  

/ drɔːˈiː /

noun

1. the person or organization on which a cheque or other order for payment is drawn

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Etymology

Origin of drawee

First recorded in 1760–70; draw + -ee

Example Sentences

See Examples For:

drawee

If, when a bill is presented to the drawee, he agrees to pay it, he is said to accept the bill, and writes his acceptance upon it.

From The Government Class Book Designed for the Instruction of Youth in the Principles of Constitutional Government and the Rights and Duties of Citizens. by Young, Andrew W.

For instance, the holder of the note may wish to use the money before it is due, or the payee of a draft may wish to realize without going to the drawee.

From Studies in Civics by McCleary, J. T. (James Thompson)

The acceptance of a bill is the signifying by the drawee that he has assented to the drawer's order, and must be in writing.

From Putnam's Handy Law Book for the Layman by Bolles, Albert Sidney

The person thereby required to pay is called the drawee.

From Encyclopaedia Britannica, 11th Edition, Volume 3, Slice 7 "Bible" to "Bisectrix" by Various

The State Bank of Utah is called the drawer; the National Park Bank of New York, on whom the draft is drawn, is the drawee; Henry L. Fowler is the payee.

From Business English A Practice Book by Buhlig, Rose