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Wednesday, 29 January 2020
Agent Resource Center
Agent Resource Center

Question: An endorsement on a negotiable instrument containing the words “without recourse” is a(n):

Written by Posted On Thursday, 05 December 2019 05:00

(A) Endorsement in blank
(B) Qualified endorsement
(C) Special endorsement
(D) Restricted endorsement

 

Answer:  (B)  The payee writing “without recourse” above his signature on a negotiable instrument is actually saying he will not be responsible if the check or note is not paid later. This is called a qualified endorsement.

Read 30 times Last modified on Friday, 22 November 2019 16:14
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