Write True if the statement is true, False if it is false. All questions are...

50.1K

Verified Solution

Question

Accounting

Write True if the statement is true, False if it is false. All questions are based on the data below. Consider each number separate and distinct than that of the other except when it is provided otherwise.

Sexy draws an instrument which orders Gwapo to pay Macho or upon his order Php 10,000. Such instrument was indorsed to Ambrosio then to Borak then to Champorik then to Dambo the current holder. The instrument is payable on June 16, 2023.

16. If subsequent to the issuance of the instrument, Sexy died, presentment for payment must be made to the personal representative of Sexy if such person could be found. ______

17. As it turns out, Sexy and Gwapo are partners in the business of making sukang nakuratan. The instrument was issued by Sexy on an unrelated matter in reference to the partnership. In such case, since Sexy and Gwapo are partners, then such instrument may be presented to Sexy or Gwapo. _______

18. Sexy and Gwapo are not partners. Since Sexy and Gwapo are not partners, then the instrument must be presented to both of them _______

19. Sexy and Gwapo did not know each other, nor did Sexy or Gwapo ever met. There was never any transaction or prior or present obligation between the two. In such case, there is a need to present the instrument to Sexy to make her liable on the instrument ________

20. Gwapo accepted the instrument for the accommodation of Sexy. In such there is no need to present the instrument to Sexy. _______

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students