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

An accommodation party is one who has signed the note as maker, drawee, acceptor or indorser without receiving value therefor, and for the purpose of lending his name to some other person.

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

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 Rose Buhlig

Sometimes the drawer or indorser has reason to expect that the bill may be dishonoured by the drawee.

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

But there are certain peculiar rules Cheques. relating to the latter which arise from the fact that the relationship of banker and customer subsists between the drawer and drawee of a cheque.

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

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 Albert Sidney Bolles