Examlex
How do constructivists characterize the national interest?
Drawer
In the context of negotiable instruments, this term refers to the party that creates or writes a check or a draft, instructing the drawee (usually a bank) to pay the specified amount to a third party (the payee).
Drawee
The party directed by a drafter (such as in the case of a cheque) to pay a certain amount of money to a third party.
Negotiability
Negotiability refers to the feature of certain documents, such as negotiable instruments, that allows them to be transferred or endorsed from one party to another, thereby guaranteeing payment to the holder.
Payable on Demand
A term indicating that a payment must be made by the debtor immediately upon the creditor's request.
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