The Person to Whom the Order in a Draft Is

question 45

Multiple Choice

The person to whom the order in a draft is addressed is known as the:

• A) payee.
• B) drawee.
• C) drawer.
• D) maker.

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Definitions:

Oral Evidence

Testimony given by a witness or party during a trial based on what the witness has heard or personally experienced.

Statute of Frauds

A legal principle requiring certain types of contracts to be written and signed to be enforceable.

Assignments

The act of transferring rights, property, or responsibilities from one party to another.

Delegations

The act of authorizing another person or entity to act on one's behalf in certain matters or decision-making processes.