Need to know help me

what is mean by Drawer ,Drawee and payer and payer

I need some examples with clear explanation


negotiable doubt help me
Replies (6)
Quick Summary
This discussion clarifies the terms Drawer, Drawee, and Payer in the context of cheques and negotiable instruments. The Drawer is the person who writes and issues the cheque, while the Drawee is the person or entity on whom the cheque is drawn (often a bank). The Payer is the entity making the payment, which can sometimes be the bank itself. Examples are provided to illustrate these roles in typical financial scenarios.

Drawer and payer means giver, payee & drawee means receiver
X issued cheque to Y for some payment , here X is Drawer, Y is Drawee

1) Drawer means the person who draws a cheque

2) Drawee means the person on whom cheque has been drawn.

3) " A/c payee only " , is safest way to make a payment through cheque, we write on right hand side above on the cheque with cross , in this Case money will be credited to in drawee account only.

4) payer is person who pays money to drawee for example Bank .

@ Prasad nillugal sir simply

 

Mr Sanjay and Mr sruthi is there ,sruthi owes from Sanjay 1 lakh .....so here Shruti is liable to pay to Sanjay

Here Sanjay is a drawer and sruthi is drawer

IAM I right sir??

 

 

Sruthi is drawee, she is Liable to pay ,

Sruthi owes from Sanjay 1 lac , So Sanjay will issue cheque of Rs 1 Lac to Sruthi.
Sanjay - Drawer and Sruthi - Drawee.
Drawer drawee ,payer, Payee all are terms as per NI ACT.
DRWEE IS A PERSON WHO ISSUES THE CHEQUE.

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