Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Indorsement
n. 1. The placing of a signature, sometimes with an additional notation, on the back of a negotiable instrument to transfer or guarantee the instrument or to acknowledge payment. 2. The signature or notation itself. -Also spelled endorsement. - endorse, ub.
accommodation indorsement
See INDORSEMENT.
accommodation indorsement.
An endorsement to an instrument by a third party who acts as surety for another party who remains primarily liable. See ACCOMMODATION PAPER.
anomalous indorsement
see irregular endorsement under indorsement.
anomalous indorsement.
See irregular endorsement.
blank indorsement
An indorsement that names no specific payee, thus making the instrument payable to the bearer and negotiable by delivery only. UCC § 3-205(b). -Also termed indorsement in blank; general indorsement.
blank indorsement.
See INDORSEMENT.
collection indorsement
See restrictive endorsement.
conditional indorsement
See INDORSEMENT,
conditional indorsement.
An indorsement that restricts the instrument in some way, as by limiting how the instrument can be paid or transferred; an endorsement giving possession of the instrument to the indorsee, but retaining title until the occurrence of some condition named in the endorsement. ( Wordings that indicate this type of indorsement are "Pay to Brad Jones when he becomes 18 years of age" and "Pay to Brigitte Turner, or order, unless before payment I give you notice to the contrary." Cf. special indorsement
full indorsement
See special indorsement.
full indorsement.
See irregular indorsement under INDORSEMENT.
general indorsement
See blank endorsement.
indorsement in blank.
See blank endorsement.
indorsement without recourse.
See qualified endorsement.
irregular indorsement
See INDORSEMENT.
qualified indorsement.
See INDORSEMENT.
restrictive indorsement.
An indorsement that includes a condition (e.g., "pay Josefina Cardoza only if she has worked 8 full hours on April 13") or any other language restricting further negotiation (e.g., "for deposit only"). - Also termed collection indorsement.
special indorsement
See INDORSEMENT.
special indorsement.
An indorsement that specifies the person to receive payment or to whom the goods named by the document must be delivered. UCC § 3-205(a). - Also termed indorsement in full; full indorsement. Cf. conditional indorsement.
trust indorsement.
An indorsement stating that the payee becomes a trustee for a third person (e.g., "pay Erin Ray in trust for Kaitlin Ray"); a restrictive indorsement that limits the instrument to the use of the indorser or another person.
unauthorized indorsement
See INDORSEMENT.
unauthorized indorsement.
An endorsement made without authority, such as a forged indorsement.
unqualified indorsement
An indorsement that does not limit the indorser's liability on the paper. ( It does not, for example, include the phrase "without recourse."
unrestricted indorsement
See unrestrictive indorsement under INDORSEMENT. unrestrictive indorsement. See INDORSEMENT.
unrestrictiae indorsement.
An endorsement that includes no condition or language restricting negotiation. - Also termed unrestricted indorsement.