Advertisement - Continue reading below

Definition of "drawee" []

  • The party on which an order for the payment of money is drawn. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Use "drawee" in a sentence
  • "Braudel, p. 368, distinguishes four possible handlers in a bill's life course, the purchaser, the drawer, the bearer, and the drawee who would accept the bill (or not, which might give rise to protests or a lawsuit)."
  • "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."
  • "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."