Any writing that includes the essential elements of negotiability is considered a valid check when signed and delivered by the:
A) payee.
B) maker.
C) endorser.
D) drawer.

Question

Quizplus · Accepted Answer

The essential elements of negotiability include the drawer's signature, a specific payee, a certain amount, and the words "payable on demand" or "at sight." The maker is the one who signs the check, but they are not the ones issuing the check, so they cannot be the correct answer. The payee is the one who cashes the check, so they cannot be the one issuing the check. The endorser is the person who signs the back of the check to transfer ownership, so they also cannot be the one issuing the check. Therefore, the correct answer is the drawer, who is the person or entity issuing the check.

Any Writing That Includes the Essential Elements of Negotiability Is