When a Check Is Issued,the Party Who Is Paying the Cash

question 74

Multiple Choice

When a check is issued,the party who is paying the cash is referred to as the ________.

• A) payee
• B) maker
• C) bank signatory
• D) depositor

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Definitions:

Illusory Promises

Statements or agreements that appear to assure a commitment or obligation but in fact do not actually bind the party to any specific action or result.

Unilateral Contract

A type of agreement where an offer can only be accepted through the performance of an action by the party receiving the offer.

Hard Drive

A data storage device used for storing and retrieving digital information using rapidly rotating disks coated with magnetic material.

Adequacy Of Consideration

The sufficiency of what is exchanged in a contract to make the agreement enforceable, ensuring each party receives something of value.