См. также: drag-along notice, drag-along right, draw a check, draftee
acceptance of a bill of exchange. Process by which a buyer (called a 'drawee') accepts the seller's bill of exchange by signing under the words 'accepted' on face of the bill. By this act, the drawee becomes the acceptor and converts the bill into a post-dated check an unconditional obligation to pay it on or before its maturity date. (BusinessDictionary)
The drawee is the party that pays the sum specified by the bill of exchange. (Investopedia)
The drawer is the party that obliges the drawee to pay the payee. (Investopedia)
The holder of a bill of exchange is the person who is legally in the possession of it, either by endorsement or delivery, or both, and entitled to receive payment either from the drawee or acceptor, and is considered as an assignee. (A Law Dictionary)
• drawee
• drawees
