MLchartDataset catalogue

Maker

Term · Law · MLC-T-LAW-003124

The person who signs a promissory note or certificate of deposit and thereby promises to pay a fixed sum to the payee. The maker is primarily liable on the instrument and must pay when it comes due, unlike the drawer of a check or draft, who orders another party to pay and is only secondarily liable. Under UCC Article 3, the maker's signature represents an unconditional promise to pay.

Table 1. Record
IdentifierMLC-T-LAW-003124
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003124",
  "term": "Maker",
  "field": "Law",
  "definition": "The person who signs a promissory note or certificate of deposit and thereby promises to pay a fixed sum to the payee. The maker is primarily liable on the instrument and must pay when it comes due, unlike the drawer of a check or draft, who orders another party to pay and is only secondarily liable. Under UCC Article 3, the maker's signature represents an unconditional promise to pay.",
  "url": "https://mlchart.com/terminology/law/maker/"
}

Record 3,087 of 5,441 in Law terminology (MLC-0107). Request the full dataset.