Jill takes a loan from a bank.She signs a standard-form note prepared by the bank.The note obligates Jill to pay to the bank the amount of the loan,plus interest.Jill is the:
A)maker of the note.
B)bearer of the note.
C)drawee of the note.
D)payee of the note.

Question

Quizplus · Accepted Answer

A promissory note is a two-party instrument in which one person (known as the maker)makes an unconditional promise in writing to pay another person (the payee).

Jill Takes a Loan from a Bank