Asked by Abhishek Prodduturi on Jun 24, 2024
Verified
Under the UCC, what role does Auto Repair hold?
A) Drawee
B) Drawer
C) Owner
D) Payee
E) Payor
Payee
The individual or entity to whom a payment is to be made.
- Gain an understanding of the obligations and roles of entities participating in negotiable instruments.
Verified Answer
KR
Kavia RameshJun 27, 2024
Final Answer :
D
Explanation :
Auto Repair is the payee because it is the entity to whom the check is made out and who will receive the payment from the check.
Learning Objectives
- Gain an understanding of the obligations and roles of entities participating in negotiable instruments.