Asked by Garrett Jones on Jun 07, 2024
Verified
Who is the drawer of the check Chloe presented to Rabia at The Furniture Shop?
A) Chloe
B) The Furniture Shop
C) Rabia, as primary owner of The Furniture Shop
D) Chloe's bank.
E) Rabia's bank.
Drawer
In financial terms, the person who writes or issues a check, directing a bank to pay the stated amount from the drawer's account.
- Determine the functions and duties of entities participating in negotiable instruments, including the drawer, maker, endorser, and acceptor.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
A
Explanation :
The drawer of a check is the person who writes the check, which in this scenario is Chloe.
Learning Objectives
- Determine the functions and duties of entities participating in negotiable instruments, including the drawer, maker, endorser, and acceptor.