A loss payee is the person or institution that receives the insurance payment from a loss. The loss payee is a legal definition used to cover the investment of other parties when you lose property.
This states that a cheque can only be paid into the account of the person name on the cheque, the payee. This effectively means that the payee cannot sign the cheque over to another person.
This states that a cheque can only be paid into the account of the person name on the cheque, the payee. This effectively means that the payee cannot sign the cheque over to another person.
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