Match each term on the left to the correct definition on the right.

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Drawer

The party that is ordered to pay a draft or check. With a check, a financial institution is always the drawee.Payee

The first transfer, or delivery, of an instrument to a holder.Negotiable instrument

A signed writing that contains an unconditional promise or order to pay an exact sum of money, on demand or at an exact future time, to a specific person or order, or to bearer.Drawee

A person to whom an instrument is made payable.Issue

A draft that is drawn by a seller of goods ordering the buyer to pay a specified sum of money to the seller, usually at a stated time in the future. On a trade acceptance, the seller is both the drawer and the payee.Acceptance

The party that initiates a draft $($writes a check, for example$),$ thereby ordering the drawee to pay.Trade acceptance

The drawee's signed agreement to pay a draft when presented.

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