In a contract, what is the term for the drawee's signed agreement to pay a draft?

In the context of a contract, the term for the drawee's signed agreement to pay a draft is referred to as "acceptance." This occurs when the drawee formally agrees to fulfill the terms indicated in the draft, thus obligating themselves to make the payment specified. This acceptance is typically denoted by the drawee's signature on the draft, signaling their acknowledgment and agreement to the financial obligation.

In contrast, endorsement refers to the act of signing a financial instrument, usually by the payee, to transfer rights to another party. An affidavit is a written statement confirmed by oath or affirmation, used commonly in legal proceedings but not directly related to payment agreements. Confirmation generally pertains to verifying or validating information or actions but doesn't specifically denote payment agreements in contracts.