Fact Pattern 25-3
To borrow the funds to pay tuition at Alpha College, Bea signs an instrument unconditionally promising to pay to "Country Loan Corporation" $7,500 with interest in installments with the final payment due June 1, 2030.
-Refer to Fact Pattern 25-3. With respect to this instrument, Bea is
A) the drawee.
B) the indorser.
C) the maker.
D) the payee.

Question

Fact Pattern 25-3
To borrow the funds to pay tuition at Alpha College, Bea signs an instrument unconditionally promising to pay to "Country Loan Corporation" $7,500 with interest in installments with the final payment due June 1, 2030.
-Refer to Fact Pattern 25-3. With respect to this instrument, Bea is
A) ​the drawee.
B) ​the indorser.
C) ​the maker.
D) ​the payee.

Quizplus · Accepted Answer

Bea is the maker of the instrument because she is the one obligated to pay the amount stated in the instrument to the payee, which is the Country Loan Corporation.

Fact Pattern 25-3 To Borrow the Funds to Pay Tuition at Alpha College