Showing posts with label promissory note. Show all posts
Showing posts with label promissory note. Show all posts

Tuesday, October 28, 2014

Which of the following is an example of an endorsement found on the back of a promissory note that is a special qualified endorsement?

Which of the following is an example of an endorsement found on the back of a promissory note that is a special qualified endorsement?

Answer: Pay to Jenny Eaton without recourse, (signed) Jan Brake.

Explanation: The endorsement is special because it indicates the person, Jenny Eaton, to whom the instrument is negotiated. The endorsement is also qualified using the phrase "without recourse".

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