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True or False: The party promising to pay a note at maturity is the maker.

User Issam Zoli
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Final answer:

The party promising to pay a note at maturity is the maker.

Step-by-step explanation:

The statement is true. In finance, a promissory note is a legal instrument used to document a promise to pay a specified amount of money at a future date. The party making the promise, also known as the debtor, is called the maker of the note. The party to whom the payment is promised, also known as the creditor, is called the payee.

User Marcel Hoffmann
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