Indorsement in United States

Indorsement Definition

In Commercial Law. That which is written on the back of an instrument in writing, and which has relation to it. Writing one’s name on the back , of a promissory note or other negotiable instrument 20 Vt. 499. An indorsement is generally made primarily for the purpose of transferring the rights of the holder of the instrument to some other person. It has, however, various results, such as rendering the indorser liable in certain events; and hence an indorsement is sometimes made merely for the purpose of additional security. This is called an “accommodation’ indorsement” when done without consideration other than an exchange of indorsements. See “Accommodation.”
(1) A blank indorsement is one in which the name of the indorser only is written upon the instrument. It is commonly made by writing the name of the indorser on the back (13 Serg. & R. [Pa.] 315), but a writing across the face may answer the same purpose (18 Pick. [Mass.] 63; 16 East, 12).
(2) An indorsement in full is one in which mention is made of the name of the indorsee. Chit. Bills, 170.
(3) A conditional indorsement is one made subject to some condition without the performance of which the instrument will not be or remain valid. 4 Taunt. 30.
(4) A qualified indorsement is one which restrains, or limits, or qualifies, or enlarges the liability of the indorser, in any manner different from what the law generally imports as his true liability, deducible from the nature of the instrument. Chit. Bills (8th Ed.) 261; 7 Taunt. 160. The words commonly used are sans recours, without recourse. 3 Mass. 225; 12 Mass. 14.
(5) A restrictive indorsement is one which restrains the negotiability of the instrument to a particular person, or for a particular purpose. 1 Rob. (La.) 222. In Criminal Law. An entry made upon the back of a writ or warrant. When a warrant for the arrest of a person charged with a crime has been issued by a justice of the peace of one county, which is to be executed in another county, it is necessary, in some states, that it should be indorsed by a justice of the county where it is to be executed. This indorsement is called “backing.”

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In Commercial Law. That which is written on the back of an instrument in writing, and which has relation to it. Writing one’s name on the back , of a promissory note or other negotiable instrument 20 Vt. 499. An indorsement is generally made primarily for the purpose of transferring the rights of the holder of the instrument to some other person. It has, however, various results, such as rendering the indorser liable in certain events; and hence an indorsement is sometimes made merely for the purpose of additional security. This is called an “accommodation’ indorsement” when done without consideration other than an exchange of indorsements. See “Accommodation.”
(1) A blank indorsement is one in which the name of the indorser only is written upon the instrument. It is commonly made by writing the name of the indorser on the back (13 Serg. & R. [Pa.] 315), but a writing across the face may answer the same purpose (18 Pick. [Mass.] 63; 16 East, 12).
(2) An indorsement in full is one in which mention is made of the name of the indorsee. Chit. Bills, 170.
(3) A conditional indorsement is one made subject to some condition without the performance of which the instrument will not be or remain valid. 4 Taunt. 30.
(4) A qualified indorsement is one which restrains, or limits, or qualifies, or enlarges the liability of the indorser, in any manner different from what the law generally imports as his true liability, deducible from the nature of the instrument. Chit. Bills (8th Ed.) 261; 7 Taunt. 160. The words commonly used are sans recours, without recourse. 3 Mass. 225; 12 Mass. 14.
(5) A restrictive indorsement is one which restrains the negotiability of the instrument to a particular person, or for a particular purpose. 1 Rob. (La.) 222. In Criminal Law. An entry made upon the back of a writ or war
rant. When a warrant for the arrest of a person charged with a crime has been issued by a justice of the peace of one county, which is to be executed in another county, it is necessary, in some states, that it should be indorsed by a justice of the county where it is to be executed. This indorsement is called “backing.”

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This definition of Indorsement is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.

See Also

Endorsement in this Legal Encyclopedia
Endorsement definition in the Law Dictionary

Indorsement (Investment Securities)

This section introduces, discusses and describes the basics of indorsement. Then, cross references and a brief overview about Investment Securities is provided. Finally, the subject of Commercial Law in relation with indorsement is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Indorsement (Negotiable Instruments)

This section introduces, discusses and describes the basics of indorsement. Then, cross references and a brief overview about Negotiable Instruments is provided. Finally, the subject of Commercial Law in relation with indorsement is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.