Asked by MaryJean Throm on May 28, 2024
Verified
The two types of indorsements are blanket or partial.
Partial
Incomplete or not whole; affecting only a part of something.
Indorsements
The act of signing one's name on the back of a negotiable instrument to legally transfer it to another party.
Blanket
In a general context, a large fabric designed for warmth, but in various fields can mean a broad coverage or application of something.
- Understand thoroughly the roles and influences of indorsements, including the distinctions among special, blank, and restrictive indorsements.
Verified Answer
SP
sergio perezJun 01, 2024
Final Answer :
False
Explanation :
The two main types of endorsements are blank (or general) and special (or full), not blanket or partial. Blank endorsements make the instrument payable to the bearer, while special endorsements specify the person to whom the instrument is payable.
Learning Objectives
- Understand thoroughly the roles and influences of indorsements, including the distinctions among special, blank, and restrictive indorsements.