Who is a person who promises to pay the note if the maker fails to pay?

• A. Guarantor
• B. Endorser
• C. Payee
• D. Co-signer

Answer: (D)

A note can have more than one signer who shares responsibility for paying it. The person who signs along with the maker and agrees to be equally liable if the maker can’t pay is the co-signer. This means the lender can demand the full amount from the co-signer just as from the maker, not only after pursuing the maker first.

Understanding the other roles helps clarify why this fits best: a guarantor commits to pay if the borrower defaults, but that promise is usually secondary and depends on the lender trying to collect from the maker first. An endorser signs to promise payment on the instrument to the holder, typically tied to transfer or negotiation of the instrument rather than immediate joint liability from the outset. The payee is simply the person entitled to receive payment, not someone who promises to pay.