drawee

How To Use drawee In A Sentence

• This so-called "truncation" of the collection process calls for a redefinition of the duties incumbent on the holder and collecting and drawee banks and have been specifically addressed in the proposed legislation. ANC Daily News Briefing
• The bank giro credit, which is delivered to the drawee bank and not to the payee, is payable as soon as the drawee, viz. the originator's bank, can make payment.
• The drawee who receives notice to stop payment of the lost instrument shall suspend its payment.
• No precise time is fixed by law at which bills payable at sight or a certain number of days after sight, must be presented to the drawee for acceptance; though an unreasonable delay might discharge the drawer. The Government Class Book Designed for the Instruction of Youth in the Principles of Constitutional Government and the Rights and Duties of Citizens.
• In any prosecution under this section, the making or drawing, or uttering or delivery of a check, draft, or order, payment of which is refused by the drawee because of lack of funds or credit, shall be prima facie evidence of intent to defraud and of knowledge The code of the city of Charlottesville, Virginia
• It is not a direct promise to pay; but it is an undertaking, by the drawer, that the drawee shall accept and pay; and the drawer is answerable only when the drawee fails to pay. The Government Class Book Designed for the Instruction of Youth in the Principles of Constitutional Government and the Rights and Duties of Citizens.
• The concept gives a payee a direct right of recourse against the drawee bank, although if there are no funds then generally the drawee does not have to pay.
• This person ( the buyer ) is known as the drawee.
• The holder shall authorize the holder's bank to collect the payment or directly make presentment to the drawee for payment within the time limit for presentment for payment.
• It simply remits the cheque to the drawee bank through the clearing house, and transmits an advice of the receipt of the cheque to the collecting bank.