A restrictive indorsement specifies the purpose of the indorsement or the use to be made of the paper.
Correct Answer:
Verified
Q12: Order paper is converted into bearer paper
Q13: Bearer paper may only be negotiated by
Q14: A qualified indorsement qualifies the effect of
Q15: When a negotiable instrument is transferred by
Q16: If an instrument is payable to bearer,
Q18: An ordinary holder of an instrument has
Q19: A payee whose name is misspelled may
Q20: When a special indorsement is made, the
Q21: When the indorser merely signs a negotiable
Q22: The warranty liability of a qualified indorser
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