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Match Each Description with the Item Below

question 29

Multiple Choice

Match each description with the item below.
-Douglas MacArthur


Definitions:

Drawee

The party in a financial transaction who is directed to pay a certain sum, typically the bank on which a check is drawn.

Negotiable

Capable of being transferred or converted into goods, services, or money under terms agreeable to the involved parties.

Payable To Order

A clause on a financial document that specifies who can receive the payment, allowing the initial payee to endorse it over to another party.

Payable To Bearer

Payable to bearer describes a financial instrument, such as a check or bond, that is payable to the holder or presenter of the document, rather than a specific individual.

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