Final answer:
When a drawee refuses to pay the instrument, it is considered to be dishonored. This situation arises commonly in banking when the bank fails to pay on a check due to various reasons. Furthermore, marking up a bill in legislative terms refers to the process of making amendments to it.
Step-by-step explanation:
If a drawee refuses to pay the instrument, it is said to be dishonored. In banking and finance, dishonor of an instrument occurs when the party that is expected to pay, such as a bank (drawee) in the case of a check, refuses to pay the amount when it is presented for payment. This refusal can happen for a variety of reasons, such as insufficient funds in the account, a stop payment order by the account holder, or the expiration of the instrument.
Concerning the other question provided for context: Saying a bill is being marked up refers to the process in which a committee will go through a bill line by line and make changes or amendments to it. This is a normal part of the legislative process when a bill is being considered for passage. It allows lawmakers to make adjustments, add new provisions, or correct any issues the bill may have before it goes to a full vote. Therefore, the markup of a bill is just another way to say it is being amended.