Regarding a promissory note,the party who makes a promise to pay is the ________ of the note,and the party to whom the promise to pay is made is the ________.
A) drawer; holder in due course
B) drawee; holder in due course
C) drawer; payee
D) drawee; payee
E) maker; payee

Question

Quizplus · Accepted Answer

The party who makes a promise to pay is called the maker of the note, and the party to whom the promise is made or who will receive payment is called the payee. Therefore, choice E - maker; payee - is the correct answer.

Regarding a Promissory Note,the Party Who Makes a Promise to Pay