1. The Party ordered to pay a draft is the drawee
2. Instruction that directs a bank not to pay a check that has been lost or stolen is a stop payment order.
3. Party to whom commercial paper is made available is the payee.
4. Unconditional written order by one person that directs another person to pay money to a third person is a bill of exchange.
5. Type of draft by which a bank depositor orders the bank to pay money, usually to the order of a third party or to the bearer of the instrument is a check.
6. Person who executes or draws the draft and orders payment be made is the drawer.
7. The drawee's promise to pay the draft when due is called acceptance.
8. Unconditional written orders or promises to pay money are called commercial paper.
9. To refuse to pay when due is called dishonor.
10. The person who executes a promissory note is the maker.
