Русско-англо-русский юридический словарь

promissory note Written, signed, unconditional, and unsecured promise by one party (the maker or promisor) to another (the payee or promisee) that commits the maker to pay a specified sum on demand, or on a fixed or a determinable date. (BusinessDictionary.com)

To be liable to the payee, however, the parties need to practice legal alchemy: the bank will avalize the bill of exchange, which will then be indorsed by the payee back to the bank, then indorsed by the bank back to the payee. (Principles of Banking Law by Ross Cranston, ‎Theodor Van Sante)

SANS RECOURS. Without recourse.

2. These words are sometimes put on a bill before the payee endorses it; they have the effect of transferring the bill without responsibility to the endorser. (Law Dictionary of Legal Terminology)

The drawer is the party that obliges the drawee to pay the payee. (Investopedia)