menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Business Law Study Set 1
  4. Exam
    Exam 22: Creation of Negotiable Instruments
  5. Question
    When Does the Drawee Become Liable for Payment of a Draft
Solved

When Does the Drawee Become Liable for Payment of a Draft

Question 1

Question 1

Multiple Choice

When does the drawee become liable for payment of a draft?


A) when the drawer signs it
B) automatically upon its creation
C) upon accepting it
D) upon the performance of the underlying obligation

Correct Answer:

verifed

Verified

Related Questions

Q2: Both checks and notes have makers.

Q3: Determine whether the following instrument is a

Q4: Madolyn's father executes a promissory note stating,"I

Q5: Negotiable instruments enable the credit economy of

Q6: A promise to pay engraved in a

Q7: A certificate of deposit is a form

Q8: A sight draft that arises when credit

Q9: A promissory note for the purchase of

Q10: Which of the following is true about

Q11: Karen has a checking account at First

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines