Asked by
Halle Wright
on Nov 23, 2024
Verified
Where a cheque is made payable to Lucien Colbert, and on its reverse are written the words "For deposit only to the credit of L. Colbert,"
A) the endorsement is a restrictive endorsement.
B) the endorsement is a special endorsement.
C) the endorsement is a failure.
D) the bill can only be cashed.
E) None of the responses are correct.
Special Endorsement
An endorsement on a negotiable instrument, such as a check, specifying the person to whom or the entity to which the instrument is to be paid.
- Identify different types of endorsements and their implications for negotiable instruments.
Verified Answer
NP
Learning Objectives
- Identify different types of endorsements and their implications for negotiable instruments.