M issued a check for P1,000.00 to P. P went to McJolibi and ordered McChikenjoy. At the
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Question:
M issued a check for P1,000.00 to P. P went to McJolibi and ordered McChikenjoy. At the counter, P realized that he left his wallet at the car and all he had with him was the check. P asked the manager if he could get his wallet at the car so he could pay.The manager said yes but asked P to leave the check to make sure that he would come back right away. P gave the check to the manager.
a. Was the check validly negotiated? Explain.
b. Is the manager of McJolibi an indorsee? Explain.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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