 A promise to pay money.  Maker = Promises to pay money  Payee = Person maker promises to pay

 Special type of note:  1. Bank acknowledges receipt of money.  2. Bank promises to repay the money.

 An order to pay money.  Drawer – Orders the payment of money  Drawee – Person to pay the money  Payee – Person entitled to the money

 Special type of draft:  1. Bank is the drawee, and  2. Payable on demand.

Drawee (Lincoln) has accepted the check.

Drawer and drawee are the same bank (Peoples Bank)

Drawer (Community Bank) and Drawee (Wells Fargo) are different banks.

Sign when purchase Sign again when cash