Asked by Victoria Ferguson on Jun 07, 2024
Verified
A(n) ________ accepts and signs a draft to agree to pay the draft when it is presented.
A) maker
B) acceptor
C) drawer
D) endorser
E) promisor
Draft
An instrument validating an order by a drawer to a drawee to pay a payee.
Acceptor
A person (drawee) who accepts and signs a draft to agree to pay the draft when it is presented.
- Distinguishing among different roles like makers, drawers, endorsers, and accommodation parties relevant to negotiable instruments.
Verified Answer
NS
Nurintan ShahiraJun 09, 2024
Final Answer :
B
Explanation :
According to Uniform Commercial Code Section 3-413(a),an acceptor is a drawee of a draft who accepts and signs the draft to agree to pay the draft when it is presented.
Learning Objectives
- Distinguishing among different roles like makers, drawers, endorsers, and accommodation parties relevant to negotiable instruments.