Introduction and Definition

Indian Contract Act (ICA)1872

Title

45:30

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Indian Economy - Understanding the basics of Indian economic system

The person who is directed to pay a bill of exchange is called --

Holder

Drawer

Drawee

Payee

- Holder: The person in possession of the bill of exchange, usually entitled to receive payment.

- Drawer: The person who creates and signs the bill of exchange, directing someone else (the drawee) to pay.

- Drawee: The person or entity directed to pay the amount specified in the bill of exchange.

- Payee: The person to whom the payment is to be made.

Based on the descriptions:

- Correct Answer: Drawee