Asked by Paulina Martinez on Jun 06, 2024
Verified
The person or company promising to pay the note plus interest when it comes due is known as the
A) drawee.
B) creditor.
C) maker.
D) payee.
Promissory Note
A written promise to pay a specified sum of money to a designated person at a fixed or determinable future time.
Creditor
Someone who has a claim to assets.
- Recognize the functions of the maker, drawer, payee, and drawee within a promissory note.
Verified Answer
AR
Aileen RochaJun 10, 2024
Final Answer :
C
Explanation :
The maker of a note is the person or company that promises to pay the principal amount plus interest when it becomes due.
Learning Objectives
- Recognize the functions of the maker, drawer, payee, and drawee within a promissory note.