Pete Daoust
So I can either buy back that debt, and send a check or..........
OK, there are three parties to a Bill of Exchange, the drawer, the drawee and the payee.....who is who ? The drawer = PIERRE DAOUST The Drawee = Bank of Canada The Payee = The ticket company ( City of Toronto let say)
Is that make sense ?
So when that ticket company (City of Toronto let say) send PIERRE DAOUST that bill of exchange, it is INCOMPLETE right ?...
My job, as the lawful holder in due course of PIERRE DAOUST is to complete that thing...right ?
By ACCEPTING it, sign it and put the PIERRE DAOUST's account number on it and send it to the drawee, which is the Bank of Canada .....right ?