Author Question: The party who writes or creates a promissory note is called the: A) payee. B)drawee. C)drawer. ... (Read 113 times)

james9437 · **on:** Jun 24, 2018

The party who writes or creates a promissory note is called the:
A) payee.
B)drawee.
C)drawer.
D)maker.

Question 2

First Lincoln holds a deed of trust on Ellen Tracy's home (amount secured = 175,000). Ellen has defaulted on her payments. Describe the steps First Lincoln must take to sell the property.

SamMuagrove · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

D

Answer to Question 2

First Lincoln's trustee must notice a trustee's sale; wait for the statutory period (typical is 90 days) and then hold a sale. Highest bidder gets title.