Fact Pattern 19-3
Thalia signs an instrument unconditionally promising to pay to "Union Bank" $7500 with interest in installments with the final payment due June 1, 2017.
-Refer to Fact Pattern 19-3. With respect to this instrument, Union Bank is
A) the drawee.
B) theindorser.
C) themaker.
D) the payee.

Question

Fact Pattern 19-3
​Thalia signs an instrument unconditionally promising to pay to "Union Bank" $7500 with interest in installments with the final payment due June 1, 2017.
-Refer to Fact Pattern 19-3. With respect to this instrument, Union Bank is​
A) ​the drawee.
B) ​theindorser.
C) ​themaker.
D) ​the payee.

Quizplus · Accepted Answer

Union Bank is the payee because it is the entity to whom the payment is promised in the instrument.

Fact Pattern 19-3 ​Thalia Signs an Instrument Unconditionally Promising to Pay to "Union

Fact Pattern 19-3 Thalia Signs an Instrument Unconditionally Promising to Pay to "Union