ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Restrictive
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Blank
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Special
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None of the above
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Detailed explanation-1: -An endorsement “in full” or a special endorsement is one where the endorser puts his signature on the instrument as well as writes the name of a person to whom order the payment is to be made.
Detailed explanation-2: -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.
Detailed explanation-3: -An endorsement is the signature of a payee on a check. This signature is written before the check is transferred to the payee’s bank. For example, a “for deposit only” endorsement ensures that the payee’s bank must deposit the funds into the payee’s account.
Detailed explanation-4: -Signing the back of the check is called “endorsing” it.” This endorsement provides the bank with an opportunity to verify your identity and ensure the check is deposited into the correct account. All parties who are listed on the “pay to” line on the front of the check should endorse the back.
Detailed explanation-5: -Blank or General Endorsement. Full Endorsement or Special Endorsement. Conditional Endorsement. Restrictive Endorsement.