Asked by Corinna Vogel on Jun 30, 2024
Verified
A check involves 3 parties: a maker who signs the check,a payee who is the recipient,and a bank on which the check is drawn.
Maker
In finance, the party that creates or issues a promissory note.
- Understand the roles of various parties in a transaction involving checks.
Verified Answer
FH
fatema hassnJul 07, 2024
Final Answer :
True
Explanation :
This is a correct statement about the three parties involved in a check. The maker is the person who writes and signs the check, the payee is the person or organization that will receive the money, and the bank on which the check is drawn is the institution that will handle the transaction and make the payment from the maker's account.
Learning Objectives
- Understand the roles of various parties in a transaction involving checks.