Previous Ontario School Bookkeeping (1909) Next




The parties to a draft are : (1) the drawer, who makes the request and signs the draft, (2) the drawee, who is requested to pay, and afterward becomes the acceptor, (3) the payee, who is to receive the payment ; when the payee writes his name across the back he becomes the first endorser. In the following draft, Pupil is the drawer, M. Sinclair is the drawee (and afterward the acceptor), and R. Bruce is the payee and first endorser.



/`125 50   Axain ew, ~S ye/ 1, 79

j/t ee mordit:S after date J promise to pay

to the

order of gax~n at de nuivan JJan /cxe

One jana leed and JIVenli=


ISO 100

GICd t'ittexed. at 1e/ae4a ftex ce/nZ ftPix a i urn

for value received!

J&/ax,   d 1, /9-Jay4 after elate pay to

the order o/"3. jJxace

,%;e JL ainalxea~ arn~ e/e/ve/nu~t~e% //tQe

for value received, and charge to account of JL'gne x,

/Glare yea' ate.

= ~oliars



Previous Ontario School Bookkeeping (1909) Next