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If we desire respect for the law, we must first make the law respectable.
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Legal Definitions - payee
Definition of payee
A payee is the individual or entity designated to receive a payment. This payment can come in various forms, such as money, a financial instrument like a check, or a digital transfer. Essentially, the payee is the ultimate recipient of funds from a payer.
Here are some examples to illustrate the concept of a payee:
Freelance Services: Imagine a freelance writer who completes an article for a publishing company. When the publishing company sends payment for the completed work, the freelance writer is the payee because they are the intended recipient of the funds for their services.
Rent Collection: Consider a tenant who sends their monthly rent payment to their landlord. In this scenario, the landlord is the payee, as they are the person legally entitled to receive the rent payment from the tenant.
Online Donation: Suppose an individual makes an online donation to a charitable organization dedicated to animal welfare. The charitable organization acts as the payee because it is the designated recipient of the donated funds.
Simple Definition
A payee is the person or entity legally designated to receive payment on a financial instrument, such as a check, promissory note, or bill of exchange. They are the party to whom money is paid or is legally payable.