Question

State the three parties involved in a bill of exchange.

Answer 1

Hi friend,

Bills of exchange include parties as follows :-

1)Drawer :- This is the person who writes and signs the bill.

2) Drawee :- This is the person whom the bill drawn

3) Payee :- This is the person whom the money stated in the bills payable.
He may be the drawer or any other person whom the bill has been endorshed....I hope it helps you


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Answer 2

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1.Drawer/Maker/Holder - Responsible for issuing the bill

2.Payee/Holder - The person who will receive the payment

3.Drawee/Acceptor - one who has to accept the bill