Blank endorsement

Blank endorsement

Blank endorsement of a financial instrument such as a check is only a signature, not indicating the payee. The effect of this is that it is payable only to the bearer.

It is "an endorsement consisting of nothing but a signature and allowing any party in possession of the endorsed item to execute a claim." [ [http://www.investorwords.com/5421/blank_endorsement.html Investor Words web site] ]

A blank endorsement is commonly known and accepted in the legal and business worlds. [ [http://www.answers.com/topic/blank-endorsement Answers.com] ] [ [http://www.thefreedictionary.com/blank+endorsement The Free Dictionary web site] ]

This is also called an "endorsement in blank" [ [http://www.answers.com/topic/blank-endorsement Answers.com] ] or "blank indorsement". [Gordon W. Brown and Paul A. Sukys, "Business law with U.C.C. Applications" pp. 491, 929 (McGraw-Hill, 11th ed. 2006).]

The prevalent spelling in American English is "en"dorsement; the minority convention, "in"dorsement, is found in older American documents.

References

ee also

*Banking
*Bearer
*Bearer bond
*Draft
*Negotiable instrument
*Promissory note


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Look at other dictionaries:

  • blank endorsement — see endorsement Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. blank endorsement …   Law dictionary

  • blank endorsement — n. an endorsement naming no payee, making the endorsed amount payable to the bearer …   English World dictionary

  • blank endorsement — noun an endorsement on commercial paper naming no payee and so payable to the bearer • Syn: ↑endorsement in blank • Hypernyms: ↑endorsement, ↑indorsement * * * noun : an endorsement of commercial paper that omits the name of a person in whose… …   Useful english dictionary

  • Blank Endorsement — A signature by the creator of an instrument, such as a check, which enables any holder of the instrument to assert a claim for payment. Because no payee is specified, such an endorsement essentially turns the instrument into a bearer security.… …   Investment dictionary

  • blank endorsement — an endorsement on a check or note naming no payee, and therefore payable to bearer. Also called endorsement in blank. * * * …   Universalium

  • blank endorsement — /blæŋk ənˈdɔsmənt/ (say blangk uhn dawsmuhnt) noun an endorsement on a cheque or note naming no payee, and payable to bearer …  

  • blank endorsement — /blæŋk ɪn dɔ:smənt/ noun an endorsement which consists of a signature, and no other details …   Dictionary of banking and finance

  • blank endorsement — signature (on a check, note, etc.) which makes it payable to anyone who possesses it …   English contemporary dictionary

  • endorsement — en·dorse·ment also in·dorse·ment n 1: the act or process of endorsing 2: an inscription (as a signature or notation) on a document or instrument; esp: an inscription usu. on the back of a negotiable instrument that transfers or guarantees the… …   Law dictionary

  • endorsement in blank — endorsement in blank: blank endorsement at endorsement Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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