A(n) ____ is a legally binding written order to pay a fixed sum of money that involves three parties.

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A draft is a written order to pay a fixed sum of money, which involves three parties: the drawer (the person or business who initiates the payment), the drawee (the bank or financial institution instructed to pay the money), and the payee (the person or entity who will receive the payment). Promissory notes, real estate mortgage notes, and balloon notes are all types of loan agreements between two parties, while an easement is a legal right to use someone else's property for a specific purpose.

A(n) ____ Is a Legally Binding Written Order to Pay