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

The person thereby required to pay is called the drawee.

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

Discharge.—Normally a bill is discharged by payment in due course, that is to say, by payment by the drawee or acceptor to the holder at or after maturity.

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

In Scotland it has long been the law that a bill may operate as an assignment of funds in the hands of the drawee, and � 53 of the act preserves this rule.

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

After that the bill is a double obligation of the drawer and the drawee, and may be discounted in the open market, for cash.

From Elements of Foreign Exchange A Foreign Exchange Primer by Escher, Franklin

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