What are the four types of endorsements on negotiable instruments? Describe and explain.
What will be an ideal response?
The four types of endorsements are: blank, restrictive, special, and qualified. A blank endorsement is one in which the payee of an instrument simply signs his or her name on the back of the instrument. This is dangerous because it allows anyone who has possession of the instrument to cash the instrument. Restrictive endorsements are used to limit, or restrict, the use of a negotiable instrument. As stated above, a blank endorsement allows anyone to cash the instrument. A restrictive endorsement, such as “For Deposit Only” would not allow anyone to cash it. The instrument must be deposited into an account. A special endorsement transfers the ownership from the payee to another named party. A qualified endorsement limits the liability for payment of the instrument.
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a. True b. False Indicate whether the statement is true or false
The direct and indirect quotes on the Swiss franc are 0.75 and 1.33, respectively. The direct and indirect quotes on Poland's zloty are 0.25 and 3.94, respectively. How many zloty will it cost a Polish merchant to purchase a watch priced at 270 Swiss francs
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