MLchartDataset catalogue

Drawee

Term · Law · MLC-T-LAW-001755

The party ordered by a draft or check to pay a stated sum, which for a check is normally the bank holding the drawer's account. Under the Uniform Commercial Code a drawee is not liable on the instrument to the payee or a holder until it accepts the draft or certifies the check, though a bank owes its customer a duty to pay properly payable items. A refusal to pay is called dishonor.

Table 1. Record
IdentifierMLC-T-LAW-001755
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001755",
  "term": "Drawee",
  "field": "Law",
  "definition": "The party ordered by a draft or check to pay a stated sum, which for a check is normally the bank holding the drawer's account. Under the Uniform Commercial Code a drawee is not liable on the instrument to the payee or a holder until it accepts the draft or certifies the check, though a bank owes its customer a duty to pay properly payable items. A refusal to pay is called dishonor.",
  "url": "https://mlchart.com/terminology/law/drawee/"
}

Record 1,637 of 5,439 in Law terminology (MLC-0107). Request the full dataset.