If Lake writes a check drawn on his account at Southern Bank to Emerson University to pay his tuition:
A) Lake is the drawer.
B) the university is the drawee.
C) the bank is the payee.
D) Lake is the maker.

Question

Quizplus · Accepted Answer

In a check transaction, the person who writes the check is known as the drawer. Therefore, in this scenario, Lake is the drawer since he is writing the check to pay his tuition to Emerson University. The university is the payee and Southern Bank is the drawee, which means the bank is responsible for paying out the funds to the payee.

If Lake Writes a Check Drawn on His Account at Southern