Which of these statements about promissory notes is incorrect? (a) The party making the promise to pay

Question:

Which of these statements about promissory notes is incorrect?

(a) The party making the promise to pay is called the maker.

(b) The party to whom payment is to be made is called the payee.

(c) A promissory note is not a negotiable instrument.

(d) A promissory note is more liquid than an account receivable.

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