Alpha Company Has an Account at First Bank

question 116

Multiple Choice

Alpha Company has an account at First Bank.Alpha writes a check payable to Beta Company.In this transaction,Beta Company is the:

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

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Definitions:

Confirming Memo

A written document that summarizes the terms of an agreement or transaction between parties after an oral agreement has been made.

Writing Requirement

A legal stipulation that certain contracts or agreements must be in writing to be enforceable.

East Tennessee

A geographical region in the southeastern United States, characterized by its distinct cultural and historical identity.

Writing Requirement

A legal principle that certain kinds of contracts or agreements must be recorded in written form to be legally binding and enforceable.