The parties involved in a draft or a check have particular names. The person who receives the money is called the:
A) payee.
B) drawer.
C) holder.
D) payer.

Question

Quizplus · Accepted Answer

The payee is the person who receives the money from the draft or check. The drawer is the person who writes the draft or check. The holder is the person who currently possesses the draft or check, and the payer is the person who is responsible for paying the money in the draft or check (which could be the same as or different from the drawer). Therefore, the best choice is A, as it specifically refers to the person who receives the money.

The Parties Involved in a Draft or a Check Have