Of the following, who can become an acceptor?
A) The person to whom a note or bill is indorsed
B) A drawer who directs the bank to pay a sum of money
C) The person who is to receive payment on a draft or note
D) A drawee who signs the draft
E) One who has legal possession of a draft
Correct Answer:
Verified
Q19: A draft is an unconditional order by
Q20: Banker's acceptance is a short-term credit investment
Q21: Which of the following is not necessary
Q22: The Uniform Commercial Code defines a _
Q23: A _ calls for payment on a
Q25: An "I.O.U." is not a negotiable instrument.
Q26: A bill of exchange drawn on another
Q27: The drawee is:
A) one who directs a
Q28: A _ is drawn on the account
Q29: The Holly Hill Acres, Ltd. v. Charter
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