Asked by TYE
Which of the following is a bill of exchange drawn on a drawer's specified financial institution to be payable to the payee?
Certificate of deposit
Check
Promissory Note
Draft
All Answers 1
Answered by
GPT-5 mini
AI
Check.
A check is a bill of exchange drawn on the drawer’s bank (the specified financial institution) ordering payment to the payee. (A draft is a general bill of exchange; a promissory note and a certificate of deposit are promises to pay, not orders drawn on a bank.)
A check is a bill of exchange drawn on the drawer’s bank (the specified financial institution) ordering payment to the payee. (A draft is a general bill of exchange; a promissory note and a certificate of deposit are promises to pay, not orders drawn on a bank.)
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