BILL OF EXCHANGE. A written order from A. to B., directing B. to pay C. a certain sum of money therein named. A bill of exchange is an instrument, negotiable in form, by which one, who is called the “drawer,” requests another, called the “drawee,” to pay a specified sum of money. A bill of exchange is an order by one person, called the “drawer” or “maker,” to another, called the “drawee” or “acceptor,” to pay money to another, (who may be the drawer himself,) called the “payee,” or his order, or to the bearer. If the payee, or a bearer, transfers the bill by indorsement, he then becomes the “indorser.” Black’s 1st. See Note, payee.
Note: It has recently been discovered that the IRS has its own bank account (semisecret), called a “Treasury Tax and Loan Account,” or TTL, in every banking/financial institution that deals in Federal Reserve Notes. It has also been verified that IRS levies are effected from the “Special Procedures Function Department (or Office)” via simple fax (bill of exchange) instructing the particular bank, savings & loan, credit union, brokerage house, etc., to debit the depositor’s/taxpayer’s account and credit the TTL.