What is (are)the term(s)used to describe the party who borrows money as evidenced by a note payable?

Question

Quizplus · Accepted Answer

The party who borrows money as evidenced by a note payable is called the issuer. The lender is the party who gives the money to the issuer, while the payee is the party who receives the money from the issuer when the note is paid. Therefore, options A) Lender and B) Payee are incorrect. Option D) Issuer and lender is partially correct but does not accurately describe the specific party who is borrowing the money.

What Is (Are)the Term(s)used to Describe the Party Who Borrows