payee
maker
drawer
None of these
Answer is Right!
Answer is Wrong!
The correct answer is: B. maker
A promissory note is a written promise to pay a certain amount of money to another person or entity on a specified date. The person who writes the promissory note is called the maker. The person to whom the money is owed is called the payee. The drawer is the person who signs the promissory note and promises to pay the money.
Here is a brief explanation of each option:
- A. Payee: The payee is the person to whom the money is owed. The payee is the one who will receive the money when the promissory note is paid.
- B. Maker: The maker is the person who writes the promissory note. The maker is the one who promises to pay the money.
- C. Drawer: The drawer is the person who signs the promissory note. The drawer is the one who is legally obligated to pay the money.
- D. None of these: None of these options is correct. The person who writes a promissory note is called the maker.