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Explain the following statement/s not less than 5 sentences. 1. Is the bank liable to the payee for depositing and encashing the crossed checks to

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Explain the following statement/s not less than 5 sentences. 1. Is the bank liable to the payee for depositing and encashing the crossed checks to an unauthorized person? 2. Identify the different liabilities of parties. 3. Recognize the drawer, acceptor and indorser of instruments. 4. What is the order of preference with regard to the place of the presentment? Explain each

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