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Legal Terms - Acceptance of a bill
The formal consent by the drawee, who is the person on whom a bill of exchange is drawn, to accept the order of payment.
Individual who assumes the responsibility of creating or producing it (the artist). The acceptance must be inscribed on the bill and affixed with a signature. The drawee's signature, without any extra words, is typically enough, although it is common to also use the term "accepted". When the drawee agrees to pay, they become the acceptor and assume the primary responsibility for the bill.
The formal consent by the drawee, who is the person on whom a bill of exchange is drawn, to accept the order of payment.
Individual who assumes the responsibility of creating or producing it (the artist). The acceptance must be inscribed on the bill and affixed with a signature. The drawee's signature, without any extra words, is typically enough, although it is common to also use the term "accepted". When the drawee agrees to pay, they become the acceptor and assume the primary responsibility for the bill.
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