Company A signed a contract with company B. Payment was to be made by D/P at 60 days after sight. B made the acceptance on the draft upon the presentment of the draft attached with commercial documents. As B was in urgent need of the goods, after arrival of the goods, he borrowed the documents by a trust receipt from the presenting bank and disposed the goods. However, B refused to make payment at the maturity date. The presenting bank notified the remitting bank that the draft was dishonored, and suggested company A to lodge a claim against B for payment. Question: Which party is liable to pay? Explain