Sergio gets a haircut from Amelia and writes a check to pay for it. In this transaction, the drawee is: a. the bank on which the

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Sergio gets a haircut from Amelia and writes a check to pay for it. In this transaction, the drawee is: a. the bank on which the

check is drawn, because it must pay the check. b. Amelia, because the check is payable to her once it is presented at a bank. c. Sergio, because he drew up the check to be charged to his account. d. not a party to this transaction.

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1 answer:

Verizon [17] · Answer 1 · 2022-05-10T16:50:58+03:00

Answer: the bank on which the check is drawn because it must pay the check. (A)

Explanation:

A Drawee is a banking and legal term that is used to describe the party which has been directed by the depositor to pay a certain amount of money to the person who is presenting the draft or check or draft.

A typical example is if when someone is cashing a paycheck. The drawer is the bank that cashes the person's check, the drawer is the employer or person who wrote the check, and the person cashing the check is the payee.