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

And if the note is addressed to a drawee he must be named or indicated with reasonable certainty.

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

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)

An acceptance must be in writing and must be signed by the drawee.

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

In a note the promissor is primarily liable; in a bill the drawer becomes liable only after an ineffectual resort to the drawee.

From Principles Of Political Economy Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy by Mill, John Stuart

The bill forms good security, because, when accepted, John Smith is bound to pay the thousand pounds when due, and if he fails, the drawee is liable.

From Political economy by Jevons, W. Stanley