When a check is issued, the party who is paying the cash is referred to as the ________

A minor signed a written sales contract to purchase a parcel of property from an adult seller. After the contract was signed, the seller learned the buyer was a minor and declared he contract void. Is the seller's action permissible?

A. Yes, the agreement is void because the buyer is minor. B. Yes, the buyer violated the statute of frauds by not disclosing their age. C. No, the agreement is binding on both parties and cannot be voided by either party. D. No, in this situation only the minor may void the agreement.

For tax purposes a life insurance dividend is considered

A) a partial return of premium and is therefore not taxed. B) the same as a stock dividend. C) the same as a capital gain. D) an adjustment to gross income.