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WAEC Commerce 2002 Question 26

Question 26

Banking

The drawer of a bill of exchange which is not discounted is also the

  1. A.drawee
  2. B.acceptor
  3. C.endorser
  4. D.payee
Show the answer and explanation

Answer: D (payee)

Explanation

The drawer of a bill usually draws it in his own favour, so if he keeps it (does not discount it) he is also the payee.