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Related to Indorsee: endorsee, indorser

INDORSEE, contracts. The person in whose favor an indorsement is made,
     2. He is entitled to all the rights of the indorser, and, if the bill or note have been indorsed over to him before it became due, he may be entitled to greater rights than the payee and indorser would have had, had he retained it till it became due, as none of the parties can make a set- off, or inquire into the consideration of the bill which he then holds. If he continues to be the holder (q.v.) when the bill becomes due, he ought to make a legal demand, and give notice in case of non-acceptance or non- payment. Chitty on Bills, passim.

References in periodicals archive ?
Well before the modern rules of civil procedure, Florida courts held certain nonholders, with limited rights in a note, had standing to foreclose, such as indorsees for collection, as collection agent, or banks to which the note had been pledged as security for another obligation.