The new revision of Article 3 no longer considers ________ as restrictive indorsements.
A)indorsements for deposit
B)conditional indorsements
C)indorsements directing the indorsee to act for someone else's benefit
D)indorsements for collection

Question

Quizplus · Accepted Answer

There are two other kinds of indorsements that the original Article 3 treated as restrictive indorsements but that the revised UCC Article 3 no longer considers as restrictive indorsements.They are: (1)indorsements purporting to prohibit further negotiation and (2)conditional indorsements,which indicate that they are effective only if the payee satisfies a certain condition.

The New Revision of Article 3 No Longer Considers ________