The necessity of paying that which would be mutually satisfactory to payer and payee also makes clear why the existence of a legal-tender money does not necessarily cause its actual use in payments.
If, however, the payee resided at a sub or branch office, the office of preparation made out a money order for delivery at such sub or branch office and for payment at the post office named by the remitter in his application.
The office of preparation was always the head office of the district in which the addressee resided, and its duty was to prepare the money order in the name of the payee upon receipt of the intimation from the office of issue.
Upon receipt of the money order by the payee an acknowledgment signed by him was sent to the remitter, and the payee had to make his own arrangements for cashing his money order at the proper office of payment.
Identification of payees by well-known residents of the neighbourhood was insisted upon, and a payee of a telegraphic money order had to prove his claim and give satisfactory evidence of his permanent address.
This office was called the office of preparation, and if the payee resided in its delivery area it would also be both the office of delivery and payment.
This he gives by inserting after the name of the payee the words "or order," or the words "or bearer.
Between the drawer and the payee a draft is a conditional contract, whereby the former impliedly agrees to pay the draft if the person drawn upon does not.
For instance, the holder of the note may wish to use the money before it is due, or the payee of a draft may wish to realize without going to the drawee.
An "indorsement in full" consists of the signature of the payee and his order that the money be paid to a specified person.
The payee in any of these cases may wish to transfer the paper to some other person.
This order signed by the payee is the treasurer's receipt or voucher.
Drafts drawn abroad on a foreign drawee with a foreign payee, passing through a bank in the United States in the course of collection unless delivered by an agent of the drawer to an agent of the payee within the United States.
Promissory notes executed and mailed in the United States to a payee in Canada.
Promissory notes executed and mailed in Canada to a payee within the United States.
But the insertion by the payee of the words "interest" after the making of a note by authority of maker will not vitiate it.
A bank, for example, that pays the check of a depositor under the erroneous belief that it has sufficient funds, may not recover from the payee the excess to the depositor's credit.
As the payee was induced to take the note on A's statement of its genuineness, he could not escape payment.
And where the name of a payee or indorser is wrongly designated or misspelled he may indorse the note as therein described, adding, if he thinks fit, his proper signature.
A bill of lading is very much like a promissory note; the carrier promises to deliver the goods to somebody who is called the consignee, and who corresponds to the payee of a note.
For example, the payee writes across the back "Pay to the order of John Jones only.
John Jones, in this case, is the payee and wishes to transfer the note to John Wanamaker.
German, unable to read and write English, was induced by the payee to sign an instrument, in the form of a promissory note, relying on the false statement that it was a contract appointing the defendant agent to sell a patent right.
Where a party paid money under mistake, and the payee was negligent, the party paying may recover.
This is because the drawing of a check is not the assignment of so much money to the payee named in the check.
The maker of a negotiable instrument by making it engages that he will pay it according to its tenor, and admits the existence of the payee and his then capacity to indorse.
Sidenote: Order of payee in favor of second person.
If the remitter or payeebe a Peer or a Bishop, his ordinary title is sufficient.
The maker is the person who signs or promises to pay the note; the payee is the person to whom or to whose order the note is made payable.
In practice the payee or party for whom the money was intended, was not named in the order, which was given to the applicant upon the payment of the sum specified and the proper fee, and his filling out a printed form of application.
Then your memory did not associate the payee with Lee Harvey Oswald?
I think you have described the identification card which this payee ultimately produced and which you ultimately recognized?
So the identification established then was that the person who held the telegram also held a card addressed to the payee of the telegram?
I think you made reference to the fact that the check from the Western Union, which was the subject of this whole episode, had been purchased by someone and payable to the payee involved at the Cotton Exchange branch?
I ask you if this picture resembles the person that you have been testifying about as the payee on the occasion you have mentioned?
Lee Harvey Oswald, was the man you have been testifying about as the payee of that money order?
I understand you to say that the companion of the payee that we have been talking about was of a Latin American or Spanish type?
What I am talking about is the day that inquiry was focused upon the possibility of this payee as Lee Harvey Oswald.
You had never had any other business with this payee before?
Do you recall making any comments to Mr. Hamblen on the occasion that you have been testifying about, and after this payee had left, that you would like to punch the heads of people of this character?
If the payee transfers it by indorsement, he is called the indorser, and the person to whom he transfers it is called the indorsee.
The collateral note contains a stipulation that upon default, the payee may sell the collateral.
What effect does certification of a check by the payee have upon the maker?
They really mature at the day fixed in the instrument, but may be paid at any time after delivery at the option of the payee or holder.
That is, he writes his name thereon, before thepayee indorses it.
In case these conditions are complied with, and the drawee does not accept the bill or pay the bill after acceptance, the payee may hold the drawer.
The payee of this certificate of deposit may indorse and transfer it.
If, however, the payee chooses to accept the qualified acceptance of the drawee, he may do so, but by this act he releases the drawer and all prior indorsers from liability thereon.
By indorsement is meant the writing the name of the payee upon the back of the negotiable instrument.
They are required to present their pass books in person, or to give them to an agent or payee designated in a written order to be presented in withdrawing deposits.
When the payee transfers a negotiable instrument by indorsement, he is called the indorser, and the party to whom he indorses the note is called the indorsee.
In case the draft is a foreign one, that is, made payable or to be accepted, in a different state or country from which it is drawn, it must be protested by the payee to enable him to hold the drawer.
This amounts to a refusal on his part to accept the bill, which will entitle the payee to refuse the qualified acceptance and by giving proper notice to the drawer hold the drawer by reason of non-acceptance by the drawee.
These instruments are promissory notes, with an added agreement to the effect that certain collateral security is given the payee by the maker as security for the note.
Both maker and payee are then responsible to the bank for its payment.
When a note is discounted at a bank the payee indorses it, making it payable to the bank.
Both the check and receipt are mailed and the payee is expected to return the receipt.
If further partial payments are likely to be made, the amount should be entered in the credit column and the name of the payee in the remarks column.
The endorsement of the payee is a receipt in full for the items covered by the voucher.
Before a check can be deposited in the bank, it must be indorsed by writing the name of the payee across the back.
Accommodation Note--A note given without consideration of value received; usually done to enable the payee to raise money.
If not returned within a reasonable time, the payeeis followed up by letter and asked to return the receipt, as this becomes a part of the permanent office records.
This is detached by the payee for his records, and enables him to deposit the check without waiting to make the entry in his cash book.
The charge for correcting or altering the name of the remitter or payee of an inland order has been reduced to the fixed sum of a penny.
Compulsory registration by the Post Office was also extended to include uncrossed cheques and postal orders to which the name of the payeehad not been appended.
In the present case the fraudulent alteration of the checks was not merely in the perforation of the additional figure, but in the obliteration of the written name of the payeeand the substitution therefor of the word 'Cash.
If the payee is unknown to the teller and if the discrepancy is at all material, the teller turns the check back with the advice that the payee look up the drawer and have the error corrected.
Both checks are then torn irregularly across, and in such a way that the signature on the filled check appears on one piece and the amount and name of the payee on the other.
The notes, therefore, are not negotiable except by the signature of the payee himself from time to time as he needs the proceeds.
They are evidently negotiable, but from the nature of things could not pass by indorsement, because when the clay was once baked nothing new could be added, and under these circumstances the name of the payee was often omitted.
Many bills of exchange are drawn at sight, as it is called, in which case the payee presents it for payment to the drawee, there is no acceptance and no discount, and a bill of this kind becomes the same as a cheque.
Date and amount filled in--and the names of payee and drawer omitted!
The above list will hopefully give you a few useful examples demonstrating the appropriate usage of "payee" in a variety of sentences. We hope that you will now be able to make sentences using this word.
