Fact Pattern 24-2B
Ewa signs an instrument unconditionally promising to pay to "First State Bank" $5,000 with interest in installments with the final payment due June 1, 2012.
-Refer to Fact Pattern 24-2B. With respect to this instrument, First States Bank is
A) the drawee.
B) the drawer.
C) the maker.
D) the payee.

Question

Fact Pattern 24-2B 
Ewa signs an instrument unconditionally promising to pay to "First State Bank" $5,000 with interest in installments with the final payment due June 1, 2012.
-Refer to Fact Pattern 24-2B. With respect to this instrument, First States Bank is
A) the drawee.
B) the drawer.
C) the maker.
D) the payee.

Quizplus · Accepted Answer

First State Bank is the payee because it is the entity to whom the payment is promised in the instrument signed by Ewa.