Maker (redirected from the)

One who makes, frames, executes, or ordains; as a lawmaker, or the maker of a promissory note. One who signs a note to borrow and, as such, assumes the obligation to pay the note when due. The person who creates or executes a note, that is, issues it, and in signing the instrument makes the promise of payment contained therein. One who signs a check; in this context, synonymous with drawer. One who issues a promissory note or certificate of deposit.

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maker n. 1) the person who signs a check or promissory note, which makes him/her responsible for payment. 2) a person who endorses a check or note over to another person before it is delivered, making the endorser obligated to pay until it is delivered. (See: check, promissory note, payor, payee)

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MAKER. This term is applied to one who makes a promissory note and promises to pay it when due. He who makes a bill of exchange is called the drawer, and frequently in common parlance and in books of Reports we find the word drawer inaccurately applied to the maker of a promissory note. See Promissory note.