Which of the following words are necessary for an endorsement to be considered qualified?
A) Addition of the words, "special endorsement."
B) Addition of the words, "restricted endorsement."
C) Addition of the words, "without recourse."
D) Addition of the words, "conditional entrustment."
E) Addition of the words, "trust endorsement."

Question

Quizplus · Accepted Answer

A qualified endorsement is one that limits the liability of the endorser. The phrase "without recourse" is used to indicate that the endorser does not assume responsibility if the instrument is dishonored.

Which of the Following Words Are Necessary for an Endorsement