14 examples of payee in sentences

This order signed by the payee is the treasurer's receipt or voucher.

In the case of a note, the person who promises to pay is called the maker of the note; and the person named to be paid, the payee.

In the case of a draft or check, the person ordering the payment is called the drawer; the person addressed, the person drawn upon or the drawee; and the person to be paid, the payee.

The payee in any of these cases may wish to transfer the paper to some other person.

For instance, the holder of the note may wish to use the money before it is due, or the payee of a draft may wish to realize without going to the drawee.

This he gives by inserting after the name of the payee the words "or order," or the words "or bearer."

To illustrate: As between the maker and the payee, a note is a contract, and is binding only if it has all the requisites of a binding contract.

Therefore, if there was no consideration, or if the note was obtained by fraud or by intimidation, the payee, knowing these facts, has no right to collect upon the note, and he could not by law compel payment.

An "indorsement in full" consists of the signature of the payee and his order that the money be paid to a specified person.

An "indorsement in blank" consists simply of the signature of the payee.

A note being a contract, the maker of one is responsible to the payee, as has been said, only if all the requisites of a binding contract are present.

Between the drawer and the payee a draft is a conditional contract, whereby the former impliedly agrees to pay the draft if the person drawn upon does not.

He was obliged to admit that the payee's name, as also the amount in words and figures, seemed to be in his handwriting.

This is preachee and payee too!

14 examples of  payee  in sentences