Question

David borrows $2,000 from Matthew and gives him a promissory note. Matthew is the

a. payee.
b. payer.
c. maker.
d. drawer.

Answer 1

the answer is A
a person to whom money is paid or is to be paid, especially the person to whom a cheque is made payable.

Answer 2

a. payee

Explanation:

A promissory note is a written document, whereby a person (payer) agrees to pay the payee of the promissory note a certain amount of money on a previously agreed date.

The payer is the person who pays the payment. The payee is the person to whom the payment is made, that is the person who receives the payment.

So, the correct option is "a. Payee"

Hope this helps!