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Write True if the statement is true, False if it is false. All questions are based on the data below. Consider each number separate and distinct than that of the other except when it is provided otherwise.

Sexy draws an instrument which orders Gwapo to pay Macho or upon his order Php 10,000. Such instrument was indorsed to Ambrosio then to Borak then to Champorik then to Dambo the current holder. The instrument is payable on June 16, 2023.

1. By drawing the instrument, Sexy could not make the defense, even to a holder not in due course that in actuality Macho has no capacity to indorse the instrument made by him. ____________

2. The instrument was accepted by Gwapo. Dambo now would like the instrument to be paid. Gwapo now refused to pay Dambo for the reason that in actuality the signature of Sexy is a forgery. Such is a valid defense even to a holder in due course. _____

3. Jose, a stranger saw Sexy made the instrument. Because he would like to be noticed by Sexy, Jose signed the instrument and said to Sexy that he made an autograph on the instrument just for her. In the hands of Dambo, Jose is considered as an indorser. ______

4. In relation to number 3, Jose is liable to all holders and indorsers subsequent to Sexy _______

5. Dambo negotiated the instrument without recourse to Estirik. The instrument was dishonored due to the reason that the instrument is a fake. In such case, Dambo is liable to Estrik with the dishonor of the instrument ________

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