Q3 (a) Mr. Shahid draws a bill of exchange dated 1st January 2021, for Rs. 10, 000, in favor of Mr. Mansoor. This bill is drawn on Mr. Naveed and is crossed with words "Not Negotiable".

Give short answers with proper reasoning for the following questions.

(i) What are the names of drawer, drawee and payee in this cheque?

(ii) Can Mansoor negotiate this bill with Mr. Nasir?

(b) X is an Accountant Clerk working in the Accounts Department of Y's Cement Factory.

Give short answers with proper reasoning for the following questions.

(i) Is X a worker of the factory?

(ii) Is Y a seasonal factory?

(c) A verbally agreed to sell his house to B, for Rs. 01 million, and B paid the amount.

Give short answers with proper reasoning for the following questions.

(i) Is the above agreement a valid, void or invalid contract?

(ii) Can the house be transferred in the name of B?