J. Lennon borrows a sum of money from Y. Ono. A promissory note is used to document the terms of the transaction. In this situation:
A.
The maker of the note could be either Y. Ono or J. Lennon depending on which party actually draws up the document.
B.
J. Lennon is considered the maker of the note.
C.
J. Lennon is considered the payee of the note.
D.
J. Lennon records the note as an asset in his accounting records.