Bill of Exchange (Payment Document) | Texhour
The Bills of Exchange Act 1914 in Mauritius, defines a bill of exchange as – “an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.”
Texhour
Bill of Exchange:
The Bills of Exchange Act 1914 in Mauritius, defines a bill of exchange as – “an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.”
Parties to the bill of exchange:
- The Drawer:
The drawer is who issues the bill of exchange and the creditor to whom the money is owned.
- The Drawee:
The drawee is the person to whom the bill is drawn.
- The payee:
The payee is the person to whom the bill is payable.
- The endorser:
The endorser is the person who endorses the bill to original payee by signifying at the back of the bill.
- The endorsee:
The endorsee is the person to whom the bill is endorsed.
