Which of the following has primary liability when it comes to instruments with a promise to pay?
A)the person in physical possession of the instrument
B)the drawer of the instrument
C)the drawee of the instrument
D)the payee of the instrument

Question

Quizplus · Accepted Answer

The drawer of the instrument, who is the person who issues or creates the instrument with a promise to pay, bears primary liability for the instrument's payment. While the person in physical possession of the instrument, the drawee, and the payee may also have certain responsibilities and obligations related to the instrument, their liability is secondary to that of the drawer.

Which of the Following Has Primary Liability When It Comes