Asked by abdulbaset charsi on May 20, 2024
Verified
The person who signs a note and promises to pay it is the maker.
Maker
In the context of negotiable instruments, the individual or entity that creates and signs the promissory note, committing to pay the specified sum.
Note
A legal document that represents a type of debt or an obligation to pay an amount of money at a future date.
- Distinguish between the responsibilities and duties of stakeholders in negotiable instruments.
Verified Answer
MS
Mahli ShaykhMay 26, 2024
Final Answer :
True
Explanation :
This is true. The maker is the person who creates and signs the promissory note, thereby promising to pay the specified amount to the holder of the note on or by a certain date.
Learning Objectives
- Distinguish between the responsibilities and duties of stakeholders in negotiable instruments.