maker

(noun)

the party issuing a promisory note

Related Terms

  • payee
  • promissory note
  • promissory
  • debtor

Examples of maker in the following topics:

  • Components of a Note

    • Maker-the maker of a note is the party who receives the credit and promises to pay the note's holder.
    • The maker classifies the note as a note payable.
    • Payee-the payee is the party that holds the note and receives payment from the maker when the note is due.
    • Interest-notes generally specify an interest rate, which is used to determine how much interest the maker of the note must pay in addition to the principal.
  • Notes Payable

    • A promissory note is a negotiable instrument, where one party (the maker or issuer) makes, under specific terms, an unconditional promise in writing to pay a determined sum of money to the other (the payee), either at a fixed or determinable future time or on demand by the payee.
    • Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets.
  • The Role of Accounting in the Business

    • All this means that "accounting" can be defined as a system for measuring and summarizing business activities, interpreting financial information, and communicating the results to management and other decision makers.
    • Management accountants provide information and analysis to decision makers inside the organization in order to help them run it.
Subjects
  • Accounting
  • Algebra
  • Art History
  • Biology
  • Business
  • Calculus
  • Chemistry
  • Communications
  • Economics
  • Finance
  • Management
  • Marketing
  • Microbiology
  • Physics
  • Physiology
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  • Psychology
  • Sociology
  • Statistics
  • U.S. History
  • World History
  • Writing

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