Commercial Paper

________ is the transfer of your rights under a contract to someone else.

• Transfer
• Negotiation
• Assignment
• Transaction

The most common type of negotiable instrument.

• Money Order
• Travelers Check
• Bank Check
• Promissory Note

An order to a third party to pay money.

• Note
• Draft

The person to whom an order is given to pay money in a draft.

• Drawee
• Drawer
• Maker
• Payee

A person who possesses a negotiable instrument payable to "the order of" the person holding it or to "bearer".

• Holder
• Buyer
• Keeper
• Titleholder

A negotiable instrument is also known as _________

• Economic paper
• Financial paper
• Exchange paper
• Commercial paper

A person who promises to pay money in a note.

• Drawee
• Drawer
• Maker
• Payee

A written promise to pay money.

• Note
• Draft

The person in a note to whom the promise to pay is made.

• Maker
• Drawer
• Drawee
• Payee

A negotiable instrument must be signed by the maker or drawer

• True
• False