Asked by tushig amarjargal on Apr 28, 2024
Verified
Lillian Fey purchases a night table from Aretha Boyner.Aretha wants Lillian to pay her by check before delivering the night table to Lillian's house.Lillian decides to attach an indorsement that reads,"Pay to Aretha Boyner if she delivers her night table to me,Lillian Fey,at 16 Holmes RD." This is an example of a(n) :
A) indorsement for deposit.
B) conditional indorsement.
C) qualified indorsement.
D) significant indorsement.
Conditional Indorsement
An indorsement that makes the rights of the indorsee subject to the happening of a certain event or condition.
Indorsement
A signature or instruction written on the back of a negotiable instrument, such as a check, which specifies the terms of transfer.
- Comprehend the distinctions among endorsements and their respective consequences in legal terms.
Verified Answer
(H
(K12_HN) Hoang Hai LongApr 30, 2024
Final Answer :
B
Explanation :
The indorsement "Pay to Aretha Boyner if she delivers her night table to me, Lillian Fey, at 16 Holmes RD" is a conditional indorsement because it is contingent upon Aretha Boyner delivering the night table to Lillian Fey's address.
Learning Objectives
- Comprehend the distinctions among endorsements and their respective consequences in legal terms.
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