Asked by
Nikki Baker
on Nov 14, 2024Verified
In a promissory note, the party
A) making the promise to pay is called the payee.
B) who is paid is called the maker.
C) making the promise to pay is called the recipient.
D) who is paid is called the payee.
Promissory Note
A financial document representing a promise to pay a specified sum of money to the holder at a future date or upon demand.
Payee
is the party in a financial transaction who receives the payment.
Maker
In the context of finance, a maker is typically a party that creates or executes an order, often in trading or banking environments.
- Identify the stakeholders of a promissory note and comprehend their respective functions.
Verified Answer
SM
Learning Objectives
- Identify the stakeholders of a promissory note and comprehend their respective functions.