A promise to pay money. Maker = Promises to pay money Payee = Person maker promises to pay.
15
Types of Negotiable Instruments
-
Upload
justin-gerald-holmes -
Category
Documents
-
view
224 -
download
3
Transcript of A promise to pay money. Maker = Promises to pay money Payee = Person maker promises to pay.
Certificate of Deposit (CD)
Special type of note: 1. Bank acknowledges receipt of
money. 2. Bank promises to repay the
money.
Draft
An order to pay money.
Drawer – Orders the payment of money
Drawee – Person to pay the money
Payee – Person entitled to the money