The owner of the credit card is not the drawee. The owner is asking the credit card company to draw money out of the owner's established line of credit and pay for the item that the purchaser bought. The owner of the card is the drawer and the credit card company is the drawee. Just put a check writer in the place of the credit card owner and the bank in the place of the credit card company, and a checking account in the place of a line of credit, and the dictionary's example fits.

The exclusion on CA 25 03 pertaining to a drawee failing to pay means the bank or any other drawee (a credit card company, for example) is failing to honor the drawer's instructions to draw money out of the account to pay for the item. This is a situation in which the insured is supposed to protect himself by using sound business practices; for example, checking credit reports and checking with a bank to see if the checking account is valid, or waiting for a check to clear before handing over the purchased item. False pretense coverage is not meant to protect an insured who does not follow sound and reasonable business practices—an insured who fails to take any responsibility upon himself to protect his property and interests.