Question
The maker of a bill of exchange or cheque is called
the:Solution
Section 7 provides that the maker of a bill of exchange or cheque is called the 'drawer'; the person directed to pay is called the 'drawee'. After the drawee signs his assent on the bill and delivers it, he becomes the 'acceptor'. The person named in the instrument to whom the money is directed to be paid is the 'payee'. These definitions of parties are foundational and frequently tested.
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