Question
Alhaji Amin draws an open cheque on Agric Bank Ltd payable to Bakari for Ghc2,000 on Bakaris safe return from the Hajj. Bakari endorses the
Alhaji Amin draws an open cheque on Agric Bank Ltd payable to Bakari for Ghc2,000 on Bakari’s safe return from the Hajj. Bakari endorses the cheque to his friend Gariba to assist him in his garment business. Garibaendorses the cheque to Damali in payment for some agbada outfits he purchased from him.
When Damali presented the cheque at Agric Bank Ltd, it was returned to him unpaid with the “payment Countermanded”.
What remedies, if any, are available to Bakari, Garibaand Damali?
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Solution Bakari does not have any options left since the c...
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Cost Management Accounting And Control
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
6th Edition
324559674, 978-0324559675
