Payee
/ˈpeɪiː/
Definitions
- (n.) The person or entity designated to receive payment under a legal instrument such as a check, promissory note, or contract.
The payee endorsed the check before depositing it into their account.
Related terms
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Commentary
The term 'payee' is central in contract and negotiable instrument law, referring strictly to the recipient of payment. Correct identification is critical to avoid payment disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.