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3. (a) Explain the rules regarding transfer of ownership from seller to the buyer. 10
(b) Distinguish between a condition and a warranty. 10
7. (a) What precautions should a banker take while opening and operating the account of a major?
10
(b) What are the general principles of lending by a bank? 10
8. (a) Why is crossing done on a cheque? What is the effect of not negotiable crossing? 10
(b) Explain briefly the various kinds of endorsements. 10
13.