Miscellaneous Provisions

Indian Contract Act (ICA)1872

Title

45:30

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Indian Economy - Understanding the basics of Indian economic system

The drawee of a cheque is always a

Company

Payee

Debtor

Banker

- Option 1: Company

- Companies can issue cheques but are typically not the drawee.

- A company might be the drawer or payee.

- Option 2: Payee

- The payee is the person or entity to whom the cheque is made payable.

- They receive the funds once the cheque is cashed.

- Option 3: Debtor

- A debtor might owe money represented by the cheque.

- Not typically referred to as the drawee.

- Option 4: Banker

- The banker is the drawee of a cheque.

- They are responsible for making the payment on behalf of their account holder.