a) A cheque is drawn payable to "B or order and delivered in payment of a debt. B's agent, without having any authority to endorse, endorses the cheque "per pro" for B and obtains payment of the money and misappropriates it. Is the banker discharged by payment in due course? Support your answer.

b) A director of a company endorses the cheque payable to the company in his name and deposits them in his personal account and the banker credits his account. Is the banker liable? Give reasons for your answer.

c) A promissory note was made without mentioning any time for payment. The holder added the words "on demand" on the face of the instrument. Does this amount to material alteration?

d) A bill is payable to "A on order". It is stolen from A and the thief forges A's endorsement and endorses it to B who has taken it in good faith and for value. The Bill is dishonored. Discuss the status of B. What will happen if the drawee pays the amount to B on presentment?