Which one of the following would be a three-party transaction?
A)a promissory note
B)a certificate of deposit
C)an ordinary lease
D)a draft

Question

Quizplus · Accepted Answer

A draft involves three parties: the drawer (person giving the order to pay), the drawee (person or entity who must pay), and the payee (person who is receiving the payment). A promissory note and certificate of deposit involve only two parties, and an ordinary lease involves two parties (the lessor and lessee).

Which One of the Following Would Be a Three-Party Transaction