With a demand instrument, the ________ can demand actual payment at any time.

A) payor
B) payee or subsequent holder
C) lessor
D) government
E) state

Demand Instrument

A type of draft that allows the payee to demand payment at any time from a holder.

Payee

The individual or entity to whom a payment is to be made or who will receive the payment.

Subsequent Holder

An individual or entity that acquires a negotiable instrument after it has been initially issued.