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The party to whom orders are transferred must go through the same forms at the office, where payment is made, as if he was the original payee. It is not necessary to register letters containing checks. Never write "personal" on a business letter. Always enclose a stamp for reply when writing to a stranger. See that the addresses on your letters are distinctly legible.
"Date and amount filled in and the names of payee and drawer omitted! What does it mean?" "Ah!" said Starmidge, "when we know that, Mr. Neale, we shall know a lot! But I'm pretty sure of one thing. Mr. Hollis came down here intending to pay somebody ten thousand pounds. And he wasn't exactly certain who that somebody was!" "Good!" muttered Polke. "Good! That looks like it."
"Didn't pan out quite so rich this week, eh?" said the clerk engagingly. "No," returned See Yup impassively; "next time he payee more." When the third Saturday came, with the appearance of See Yup and four hundred and fifty dollars' worth of gold-dust, the clerk felt he was no longer bound to keep the secret.
The common traffic of the city, the common currency indeed of all the world, was conducted by means of the little brown, green and pink council cheques for small amounts, printed with a blank payee. Asano had several with him, and at the first opportunity he supplied the gaps in his set.
"It was a curious cheque, ma'am," replied Starmidge. "It was drawn on Mr. Hollis's bankers, Vanderkiste, Mullineau & Company, of Lombard Street. It was dated. It was filled in for ten thousand pounds in words and in figures. But it was not signed and it was not made out to any body. No name of payee, you understand, ma'am, no name of payer. But it is very evident Mr.
A draft is a written order from the first party to the second party to pay to the third party a certain sum of money at a certain time. The first party is called the "drawer." The second party is the "drawee." The third party is the "payee." There are two kinds of draft.
If the wholesaler needs money, he endorses these notes and putting them in his bank draws against them, less the discount he has to pay for the accommodation. As has been shown, an account may be transferred and sold, but a note is more convenient for that purpose. As with a check the maker of a note is known as a "drawer," the person in whose favor it is drawn is the "payee."
"So," said Starmidge, "he didn't fill in either the name of the payee or his own name until he was sure! See, Mr. Neale!" "Why did he fill in the amount?" remarked Neale, sceptically. Starmidge winked at Polke. "Very likely to dangle before somebody's eyes," he answered slyly. "Can't you reconstruct the scene, Mr. Neale? 'Here you are! says Hollis, showing this cheque.
When a check is made payable to John Smith or order, John Smith must sign his name on the back of the check left-hand end and about an inch from the top. Never sign a check until you are ready to collect, or to bank it. The payee can endorse the check to another by writing on the back as follows: Pay to the order of Thomas Brown. John Smith.
B, to whom it is addressed, is the drawee; C, to whom it is made payable, is the payee. As the bill is payable to C, or his order, he may, by indorsment, direct the bill to be paid to D; in which case C becomes the indorser, and D, to whom the bill is indorsed, is called the indorsee or holder.
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