What is a written order by one person directing another to pay a sum of money to a third person?

The written order that directs one person to pay a sum of money to a third person is referred to as a draft. In financial terminology, a draft is a formal document that functions as an order to pay a specific amount of money, typically used in transactions involving banks or financial institutions. It involves three parties: the drawer (the person who writes the order), the drawee (the person who must pay the money), and the payee (the person receiving the money). This mechanism is essential in facilitating payments and transfers in various financial operations.

The other terms mentioned serve different functions: a note is generally a written promise to pay a specific amount; an invoice is a billing document that details services rendered or goods provided, requesting payment; and a bond is a financial instrument that represents a loan made by an investor to a borrower. Each has its own distinct purpose within financial and business contexts, distinguishing them from the specific function of a draft.