The person who signs a note receivable and promises to pay the principal and interest is the:

Question

Quizplus · Accepted Answer

The maker of a note receivable is the person who signs the note and promises to pay the principal and interest to the payee or holder at a future date. The owner refers to the person or organization that holds the note receivable, while the payee is the person who is entitled to receive the payment or who was originally owed the money. The holder refers to the person who possesses the note, which may be the payee or someone who acquired the note through a legal transfer. The receiver is a broad term that can refer to any party involved in the transaction.

The Person Who Signs a Note Receivable and Promises to Pay