If the maker of a promissory note fails to pay the note on the due date, the note is said to be ____.
A: displaced
B: disallowed
C: dishonored
D: discounted
A: displaced
B: disallowed
C: dishonored
D: discounted
举一反三
- When a note is discounted at the bank, the maker must make good on the note if the payee defaults.
- The maker of a note records interest expense. The creditor of a note holds a note receivable.
- The drawer of a promissory note is the principal debtor of the note, even if it is atime note, it is not necessary to go through the acceptance formalities.
- As a promissory note is a promise, there are only two parties concerned, i.e. the _______ and the _______. A: payee B: payer C: drawee D: maker
- A promissory note is drawn by the payer. （ ）