Question

The basic party in a bill of exchange are ( )

A. marker
B. drawer
C. drawee
D. payee

Answer 1

The basic parties in a bill of exchange are drawer, drawee, and payee.

Step-by-step explanation:

The basic parties in a bill of exchange are:

• Drawer: The person who creates and issues the bill, usually the creditor or seller.
• Drawee: The person or entity upon whom the bill is drawn, usually the debtor or buyer.
• Payee: The person or entity who will receive payment, usually the creditor or seller.

These parties are involved in a financial document that serves as a written order for the payment of a certain amount of money from one person (drawer) to another person (payee) at a predetermined date or on-demand.