BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -If a bank does not receive payment from the person who signed the check, each endorser of the check is individually liable for payment. T. F. 7. An endorsement consisting only of the endorser’s signature is a blank endorsement.

Detailed explanation-2: -Blank Endorsement – An endorsement consisting of only the endorser’s signature. If a check with a blank endorsement is lost, anyone can cash it. Use this only when you’re at the bank, ready to cash the check or deposit it into your account.

Detailed explanation-3: -Blank Endorsement for a Check You do a blank endorsement by simply signing your name on the back of the check. Then, when you’re at the bank, you tell the teller if you want to cash it or deposit it. People will also do a blank endorsement when they’re depositing a check through an ATM or using mobile deposit.

Detailed explanation-4: -An endorsement consisting only of the endorser’s signature is called a blank endorsement. An endorsement indicating a new owner of a check is called a special endorsement. A special endorsement is sometimes known as an endorsement in full.

Detailed explanation-5: -A blank endorsement is a signature on a financial instrument such as a check. No payee is specified, so any holder of the instrument could claim payment. The signature essentially turns the instrument into a bearer security. That is, it is not registered to any individual but is payable to the person who possesses it.