MLchartDataset catalogue

Drawer

Term · Law · MLC-T-LAW-001756

The person who signs a check or draft ordering the drawee to pay a stated sum to the payee. If the drawee dishonors the instrument, the drawer must pay it under UCC section 3-414, which makes the drawer secondarily liable, unlike the maker of a note, whose liability is primary. A drawer may disclaim this liability on an unaccepted draft but not on a check.

Table 1. Record
IdentifierMLC-T-LAW-001756
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001756",
  "term": "Drawer",
  "field": "Law",
  "definition": "The person who signs a check or draft ordering the drawee to pay a stated sum to the payee. If the drawee dishonors the instrument, the drawer must pay it under UCC section 3-414, which makes the drawer secondarily liable, unlike the maker of a note, whose liability is primary. A drawer may disclaim this liability on an unaccepted draft but not on a check.",
  "url": "https://mlchart.com/terminology/law/drawer/"
}

Record 1,638 of 5,439 in Law terminology (MLC-0107). Request the full dataset.