Asked by jordan gayle on Jun 06, 2024
Verified
Which of the following is an example of restrictive endorsements recognized under Article 3?
A) "Pay to Bruce Zucker in Trust for Jay Zucker."
B) "Pay to Bruce Zucker Only."
C) "Pay to Jay Zucker on the condition that he completes construction on my house by November 1,2012."
D) "Pay to the order of my account."
Restrictive Endorsements
Limiting conditions or instructions written on the back of negotiable instruments, like checks, controlling their use or further transfer.
Article 3
This term could refer to different documents or laws depending on context, such as a specific article in a constitution, treaty, or law code, thus requires specification for an accurate definition.
Trust
A fiduciary arrangement whereby one party, known as a trustee, holds assets for the benefit of another party or parties, known as beneficiaries.
- Learn the specific requirements and legal effects of different types of restrictive and qualified indorsements.
Verified Answer
Learning Objectives
- Learn the specific requirements and legal effects of different types of restrictive and qualified indorsements.
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