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

Question

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A draft is a type of check that involves three parties: the drawer (the person who initiates the payment), the drawee (the bank or financial institution that pays the money), and the payee (the recipient of the payment). The draft is a legally binding written order to pay a fixed sum of money, and it can be used in both domestic and international transactions. The other options are not applicable as they either do not involve three parties or do not involve a fixed sum of money.

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