Asked by Mohamed Araye on May 30, 2024
Verified
Carol buys some items at the drugstore and writes a check to the store on her account at First Bank. Who is the drawee?
A) Carol.
B) The drugstore.
C) First Bank.
D) The drugstore's bank.
Drawee
The individual or entity upon whom a check, draft, or bill of exchange is drawn and who is responsible for paying it.
First Bank
Historically, refers to the initial bank established in a region or country, or the earliest phase of banking service provision.
- Comprehend the roles and responsibilities of parties involved in negotiable instruments (drawer, drawee, payee, holder in due course).
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
C
Explanation :
The drawee in a transaction involving a check is the bank on which the check is drawn, which in this case is First Bank.
Learning Objectives
- Comprehend the roles and responsibilities of parties involved in negotiable instruments (drawer, drawee, payee, holder in due course).
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