Question 29 2.5 pts

David borrows $4,000 from Matthew and gives him a promissory note. David is the:

payor.

maker.

payee.

drawee.

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Question 30 2.5 pts

Harvey loaned $450 to Chase and received a promissory note. Harvey is the:

drawee.

payee.

maker.

debtor.

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Question 31 2.5 pts

The interest rate stated on a note for 90 days is:

stated on a monthly basis.

stated on a daily basis.

indeterminable.

stated on an annual basis.

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Question 32 2.5 pts

The due date of a promissory note is known as the:

discount date.

interest note.

maturity date.

issue date.