Fact Pattern 15-3
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 15-3.With respect to this instrument, Bea is
A) the drawee.
B) the indorser.
C) the maker.
D) the payee.

Question

Fact Pattern 15-3
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 15-3.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, as she promised to pay the specified amount to the lender. The other options are not applicable in this scenario.

Fact Pattern 15-3 To Borrow the Funds to Pay Tuition at Alpha College