The Person or Business Initiating a Draft Is Known as the Drafter

question 92

True/False

The person or business initiating a draft is known as the drafter and the party to whom the draft is presented is known as the draftee.

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Definitions:

Bulk Sales Act

Legislation designed to protect creditors by requiring a business owner to notify them before making a large, non-ordinary sale of inventory.

Merchant

An individual or business entity engaged in the sale of goods, especially on a large scale or with foreign countries.

Grain

A small, hard, dry seed harvested from cereal plants or grasses, used for food.

Quantities

Refers to the specific amounts or numbers of items, often used in the context of purchases, manufacturing, or inventory.