The drawee is:
A) one who directs a person or entity, usually a bank, to pay a sum of money stated in an instrument.
B) the person or entity that a draft is directed to and that is ordered to pay the amount stated on it.
C) the one who pledges to honor the draft as written.
D) the party that signs a promissory note.
E) one who has legal possession of a draft, note, or other negotiable instrument and who is entitled to payment.
Correct Answer:
Verified
Q22: The Uniform Commercial Code defines a _
Q23: A _ calls for payment on a
Q24: Of the following, who can become an
Q25: An "I.O.U." is not a negotiable instrument.
Q26: A bill of exchange drawn on another
Q28: A _ is drawn on the account
Q29: The Holly Hill Acres, Ltd. v. Charter
Q30: A banker's acceptance is:
A) a debt instrument
Q31: The benefit to negotiability is that the
Q32: A certificate of deposit is not negotiable.
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