Asked by Aleya Smith on May 12, 2024
Verified
Under the UCC, what title does Sam hold?
A) Drawee
B) Drawer
C) Owner
D) Payee
E) Payor
Drawer
The person who writes or issues a check, draft, or bill of exchange, thereby creating an obligation to pay.
Payee
The individual or entity to whom money is payable, typically the recipient of a check or electronic payment.
- Apprehend the assignments and accountabilities of participants in negotiable instruments.
Verified Answer
AC
Alexis Collins DuehrenMay 13, 2024
Final Answer :
B
Explanation :
Sam is the drawer because he is the one who writes the check, directing his bank (the drawee) to pay a certain amount of money to another party (the payee).
Learning Objectives
- Apprehend the assignments and accountabilities of participants in negotiable instruments.