A ________ is payable on presentation to the drawee.
A) bill of lading
B) time draft
C) sight draft
D) letter of credit

Name: A ________ is payable on presentation to the drawee. A) bill of lading B) time draft C) sight draft D) letter of credit
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Question

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Drafts fall into two categories, sight drafts and time drafts. A sight draft is payable on presentation to the drawee. A time draft allows for a delay in payment-normally 30, 60, 90, or 120 days.

A ________ Is Payable on Presentation to the Drawee