An instrument which reads "For deposit only" is an example of a _____.
A) qualified indorsement
B) special indorsement
C) restrictive indorsement
D) blank indorsement

Question

Quizplus · Accepted Answer

A restrictive indorsement is one that specifies the purpose of the indorsement or specifies the use to be made of the instrument. This includes indorsements for deposit such as "For Deposit Only" or "For Deposit to My Account at First National Bank."

An Instrument Which Reads "For Deposit Only" Is an Example