Question

A person who draws a bill of exchange. Answer in a word / phrase / term.

Answer 1

The person who draws the bill is called the drawer. 

Answer 2

Answer:

DRAWER.

Explanation:

The ‘drawer’ prepares the Bill of Exchange requesting one party to pay an amount to the third-party who is also called the ‘payee’.

The second-party is usually a bank, also referred to as ‘drawee’. In most cases, the ‘drawer’ and ‘payee’ are the same. When the drawer transfers the title of the Bill to another party then the new party becomes the ‘payee’.