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Question
State whether the following statement is True or False.
A person to whom or as per his order, amount of bill is payable is a Payee.
Options
True
False
MCQ
True or False
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Solution
True
Explanation: The person to whom the amount of a bill is payable is known as a payee. The drawer himself or a third party, such as an endorsee, can be the payee of the bill.
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