State whether the following statements are True or False with reasons:

1.	State whether the following statements are True or False with reasons:Drawee can transfer the ownership of the bill.
Answer» This statement is False. Drawee is a debtor. He has to pay the amount of the bill to its holder on the due date. Hence he cannot transfer its ownership to other people. The drawer can transfer the ownership of the bill as he is the owner of the bill.

State whether the following statements are True or False with reasons:Drawee can transfer the ownership of the bill.

Answer»

This statement is False.

Drawee is a debtor. He has to pay the amount of the bill to its holder on the due date. Hence he cannot transfer its ownership to other people. The drawer can transfer the ownership of the bill as he is the owner of the bill.

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State whether the following statements are True or False with reasons:Drawee can transfer the ownership of the bill.

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