Arjan provides a cheque to Mohammad on 1 Oct 2020. the check is dated 1 Dec 2020, and in the amount of $25,000. Mohammad signs the back of the check "Mohammad payable to Tim" and gives the check to Tim for $22,000 in currency on 15 Oct 2020. please fully describe the legal effects of the 2 transactions that occurred?

Arjan provides a cheque to Mohammad on 1 Oct 2020. the check is dated 1 Dec 2020, and in the amount of $25,000. Mohammad signs the back of the check "Mohammad payable to Tim" and gives the check to Tim for $22,000 in currency on 15 Oct 2020. please fully describe the legal effects of the 2 transactions that occurred?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 6DQ

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