Question

Who is not a party to cheque?
Drawer
Drawee
Payee
Acceptor​

Answer 1

D is the correct answer.

Acceptor

Explanation:

A check is a negotiable document that includes an unconditional request to the bank to withdraw a specific amount from the drawer's account and pay it to the recipient, the person to whom it is issued, or to the order of the designated person or the bearer.

Essentially, a cheque involves three parties:

• Drawer: The individual who signs and instructs the bank to pay the amount on the check.
• Drawee: The bank from which the check is drawn or the person to whom the check directs payment of the amount listed thereon.
• Payee: The beneficiary, or the person who will receive the payment.

Beyond these three, there are two additional parties to a check:

• Endorser: A person is an endorser when they grant another party the authority to receive payment on their behalf.
• Endorsee: The person to whom the right is transferred and who is known as such is the endorsee.

Option D is therefore the correct answer.

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