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Define Part I Crimes

question 3

Essay

Define Part I Crimes.List and define three categories of Part I crimes.


Definitions:

Payee

A person to whom an instrument is made payable.

Maker's Obligation

The responsibility of the creator of a negotiable instrument to pay the specified amount to the holder of the instrument upon its presentation.

Draft

Any instrument (such as a check) drawn on a drawee (such as a bank) that orders the drawee to pay a certain sum of money, usually to a third party (the payee), on demand or at a definite future time.

Drawee

The party that is ordered to pay a draft or check. With a check, a financial institution is always the drawee.

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