Laura is in possession of a check which contains the following indorsement, "Sam Smith, without recourse, for collection only." The indorsement would be classified as:
A) blank, qualified, and restrictive.
B) blank, unqualified, and unrestrictive.
C) special, unqualified, and restrictive.
D) special, qualified, and unrestrictive.
Correct Answer:
Verified
Q56: A restrictive indorsement:
A) disclaims contract liability.
B) removes
Q57: Delivery alone is insufficient to negotiate an
Q58: Indorsements with ineffective restrictions include which of
Q59: Real defenses include all but:
A) forgery of
Q60: If the instrument is order paper, how
Q62: What is negotiation? How does one become
Q63: Michael issues a check to Paula. She
Q64: Sharp Finance Company has furnished Keith with
Q65: Identify the type of indorsement each of
Q66: In a nonconsumer transaction, a holder in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents