1 answer

Which of the following is not a party to a check? bank, holder,maker, or payee

Question:

which of the following is not a party to a check? bank, holder,maker, or payee


Answers

which of the following is not a party to a check?
Ans: holder
Explanation:- A Check is an instrument which is used to make payments. A Check is drawn on a bank with which the maker (drawer) of check has an account and having funds in the account. The check orders the bank to pay the specific amount written on the check to the person in whose favor the check is issued i.e. the payee of the check. Thus there are three parties to a check, maker (also called drawer), bank (also called drawee) and payee.

Holder is not a party to a check.

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