Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Peter purchased goods on a single occasion from Al Ghanim LLC for KD80,000.Since Peter was a first time and unknown customer, Al Ghanim refused to
Peter purchased goods on a single occasion from Al Ghanim LLC for KD80,000.Since Peter was a first time and unknown customer, Al Ghanim refused to accept his personal check.Al Ghanim has their bank account at NBK, while Peter has his with Gulf Bank.
a.If Al Ghanim agrees to accept a check from Peter, what type of check would he accept considering that Peter does have a bank account?
b.Why do you suggest Peter uses this particular commercial paper?
c.Draft the commercial paper to give effect to the transaction.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started