Question

three main parties to a cheque in transaction

Answer 1

Answer:

Basically, there are three parties to a cheque:

• Drawer: The person who draws the cheque, i.e. signs and orders the bank to pay the sum.
• Drawee: The bank on which the cheque is drawn or who is directed to pay the specified sum written on the cheque.
• Payee: The beneficiary, i.e. to whom the amount is to be paid.

Answer 2

Answer:

B.asically, there are three parties to a cheque:

Drawer: The person who draws the cheque, i.e. signs and orders the bank to pay the sum.

Drawee: The bank on which the cheque is drawn or who is directed to pay the specified sum written on the cheque.

Payee: The beneficiary, i.e. to whom the amount is To be PAID .