A bill is payable to X or order, X endorses the bill in blank. The bill is there after lost and comes into the hands of Y. Discuss the legal position in each of the following alternative cases:
a. If Y receives the payment of the bill.
b. If Y passes the bill by simple delivery to Z as a gift.
c. If Y passes the bill after maturity by simple delivery to Z who takes the bill in good faith for valuable consideration.If Y passes the bill before maturity by simple delivery to Z who takes the bill in good faith for valuable consideration.
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