endorsement

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Endorsement

A signature on a Commercial Paper or document.

An endorsement on a negotiable instrument, such as a check or a promissory note, has the effect of transferring all the rights represented by the instrument to another individual. The ordinary manner in which an individual endorses a check is by placing his or her signature on the back of it, but it is valid even if the signature is placed somewhere else, such as on a separate paper, known as an allonge, which provides a space for a signature.

The term endorsement is also spelled indorsement. For examples of different types of endorsements, see indorsement.

endorsement (indorsement)

n. 1) the act of the owner or payee signing his/her name to the back of a check, bill of exchange, or other negotiable instrument so as to make it payable to another or cashable by any person. An endorsement may be made after a specific direction ("pay to Dolly Madison" or "for deposit only"), called a qualified endorsement, or with no qualifying language, thereby making it payable to the holder, called a blank endorsement. There are also other forms of endorsement which may give credit or restrict the use of the check. 2) the act of pledging or committing support to a program, proposal, or candidate. (See: negotiable instrument)

endorsement

1 see INDORSEMENT.

2 the marking of the details of a conviction on a driving licence. It is now the penalty points rather than the endorsements themselves that are of importance. See TOTTING UP.

Collins Dictionary of Law © W.J. Stewart, 2006

ENDORSEMENT. Vide Indorsement.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

References in periodicals archive ?

see also Benjamin Geva, Forged Check Indorsement Losses Under the UCC:

JUSTICE BEGINS BEFORE TRIAL: HOW TO NUDGE INACCURATE PRETRIAL RULINGS USING BEHAVIORAL LAW AND ECONOMIC THEORY AND UNIFORM COMMERCIAL LAWS

(143) Plaintiff-lenders fulfilled the requirements to succeed on their summary judgment motion: they had possession of the mortgage, "the note that, by allonge, contained an indorsement specifically payable to it," and an affidavit that was sufficient to show plaintiff-lender had "physical possession as holder of the note" at the time the action was commenced.

The easy fix to this is if New York were to adopt the revisions to Article 3, which clearly require indorsement and possession of the actual note.

has standing to enforce the mortgage, despite the absence of indorsement or physical delivery of the underlying note to the assignee." (212) The court held in the affirmative, that the assignee (plaintiff-lender) did have standing to enforce the mortgage.

The focus here was whether both indorsement and physical delivery were required to give rise to standing by plaintiff-lender to foreclose, citing to provisions in N.Y.

(64) Indorsement is defined as "[t]he placing of a signature, sometimes with an additional notation, on the back of a negotiable instrument to transfer or guarantee the instrument or to acknowledge payment." Indorsement, BLACK'S LAW DICTIONARY (10th ed.

If the instrument is payable to order it is negotiated by delivery with any necessary indorsement; if payable to bearer it is negotiated by delivery." N.Y.

The section of New York's UCC that pertains to transfer and right of indorsement is [section] 3-201.

OLD DOGS WON'T ADOPT NEW TRICKS, BUT CONTINUE TO BEFUDDLE THEIR OWN: NEW YORK'S ANTIQUATED UCC ARTICLE 3 AND THE AMBIGUITY OF ASSIGNMENT REQUIREMENTS IN MORTGAGE FORECLOSURE ACTIONS

(6.) In the legal literature, the spelling "indorsement" is preferred to "endorsement."

Instruments designed to be transferable without indorsement, such as bank notes, were not widely used until later.

The economics of payment finality

And indeed, it appears from reported decisions that the securitization industry's own practices were often to ignore indorsement and delivery requirements.

On the other hand, however, we have former securitization attorneys insisting that Article 9, rather than Article 3, was the operative transfer mechanism and evidence that the securitization industry frequently ignored the indorsement and delivery requirements of Article 3 and the deal documents.

The paper chase: securitization, foreclosure, and the uncertainty of mortgage title

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