A payee of a note always honors a note and pays it in full.

Name: A payee of a note always honors a note and pays it in full.
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Question

Quizplus · Accepted Answer

A payee of a note is the person who receives the payment from the maker of the note. While it is expected that they will honor and accept the payment, it is possible that they may not do so for various reasons such as disputes, legal issues, or financial difficulties. Therefore, it is not always true that a payee of a note will honor and pay it in full.

A Payee of a Note Always Honors a Note and Pays