| A | B |
|---|
| Acceptor | Drawee who has written “accepted” on the document and signed his/her name |
| Time draft | Not payable until the lapse of a particular time period stated on the draft |
| Drawee | One ordered to pay the money |
| Payee | One who is to receive the money |
| Drawer | Orders the money to be paid |
| Installment note | Paid in a series of payments |
| Time note | Payable at a future date that is written on the face of the note |
| Demand note | Payable whenever the payee demands payment |
| Maker | Person agreeing in writing to pay money to another |
| Note | Written promise by one person to pay money to another person |
| Trade acceptance | Used by a seller of goods to receive payment or to extend credit |
| Certified check | Personal check that has been accepted by a bank before payment |
| Stale check | A check that is more than six months old |
| Cashier’s check | A check the bank draws on itself |
| Sight draft | A draft payable as soon as it is presented to drawee for payment |
| Bad check | Check issued against checking account with insufficient funds to cover it |
| Forged check | Check signed by someone else other than drawer and without authority |
| Teller’s check (Bank Check or Draft) | Draft drawn by a bank on funds that it has on deposit at another bank |
| Check | Draft drawn on a bank and payable on demand |
| Traveler’s check | a check issued by a bank, travel agency, etc.,that is signed by the purchaser upon purchase |
