When an instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party,which kind of endorsement is used?
A)Trust endorsement.
B)Endorsement to prohibit further endorsement.
C)Conditional endorsement.
D)Bearer endorsement.
E)Conditional bearer endorsement.

Question

Quizplus · Accepted Answer

A)The trust endorsement is used when the instrument is being transferred to an
agent or trustee for the benefit of either the endorser or a third party [UCC 3-206d)].
B)The trust endorsement is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party [UCC
3-206d)].
C)The trust endorsement is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party [UCC
3-206d)].
D)The trust endorsement is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party [UCC
3-206d)].
E)The trust endorsement is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party [UCC
3-206d)].

When an Instrument Is Being Transferred to an Agent or Trustee