Samuels gave Albrite's Lumber Company a ninety-day promissory note for $2,000 for goods purchased. Albrite's Lumber Company is legally known as the

Name: Samuels gave Albrite's Lumber Company a ninety-day promissory note for $2,000 for goods purchased. Albrite's Lumber Company is legally known as the
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Question

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In this scenario, Albrite's Lumber Company is the payee because it is the entity to whom the promissory note is made payable. The payee is the party that will receive the payment from the promissory note.

Samuels Gave Albrite's Lumber Company a Ninety-Day Promissory Note for $2,000