The person who executes a promissory note is called the _____.
A) acceptor
B) endorser
C) indoser
D) maker
Question 2
Tom established a bank account for his daughter Mary under the Uniform Gifts to Minors Act. Tom named himself the custodian. Later, Tom had a serious disagreement with Mary and ordered the bank to transfer the money in that account to a similar account maintained in the same bank for Tom's son Ed. The bank must:
A) comply with Tom's order, because the custodian controls the account.
B) refuse Tom's order, because this would clearly not be for the benefit of Mary.
C) comply with Tom's order, because Uniform Gifts to Minors accounts are not final.
D) comply with Tom's order if Mary is under 18 years of age and refuse the order if she is over 18 years of age.
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