A cheque is drawn upon Dena Bank. It is stolen by X who hands it over to Y who takes in good faith for valuable consideration. Y deposits the cheque into his own account in Canara Bank who presents it and obtains payment from Dena Bank. Discuss the legal position of paying banker, collecting banker, Y and true owner in each of the following alternative cases:
a. If the cheque is payable to bearer.
b. If the cheque is payable to bearer and is crossed generally.
c. If the cheque is payable to bearer and is crossed generally with words 'not negotiable’.
d. If the cheque is payable to bearer and is crossed specially with words 'Canara Bank'.
e. If the cheque is payable to bearer and is crossed specially with words 'Allahabad Bank’.
f. If the cheque is payable to B or order and X forges B's endorsement.
g. If the drawer's signatures were forged.
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