Asked by Chasity Fields on Jul 05, 2024

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Verified

Mara has a checking account at North Bank. Mara signs a check "payable to Ovid" drawn on Mara's account. North Bank is

A) none of the choices.
B) the drawee.
C) the drawer.
D) the payee.

Drawee

The party upon whom a check, draft, or other negotiable instrument is drawn and is expected to pay.

Drawer

In banking and finance, the person who writes or issues a check or draft.

Payee

The individual or entity to whom a payment is made or owed, especially noted in the context of checks or promissory notes.

  • Acquire knowledge on the positions and obligations of the drawer, drawee, and payee when dealing with checks.
verifed

Verified Answer

NF
Natalie FincherJul 12, 2024
Final Answer :
B
Explanation :
North Bank is the drawee because it is the bank on which the check is drawn and is responsible for paying the amount specified on the check to the payee.