what does endorsement mean?
what does endorsement mean?
- INDESSMENT - transfer inscription made on bills of exchange, checks, bills of lading and other securities with an inscription in order to transfer the rights of claim under these documents or to provide for any other requirements. The INDESS should be in no way conditioned and signed by the person who committed it (the endorser). The INDOSSENT can not be partial, it transfers to the acquirer all the rights contained in this document. INDOSSAMENT can be registered or order, that is, with the indication of the person to whom the document is transferred, and blank (bearer), when it consists only of the signature of the endorser. A person to whom a bill, a check and another security by a registered INDODSANT are transferred may in turn transfer the relevant document by means of a nominal or blank INDOSSAMENT. If there is a blank INDOSSAMENT, further transfer may be carried out without issuing a transfer letter by a simple actual transfer, and any bearer is assumed to be its legal holder. The bill and check INDOSSAMENT assign to the endorser the responsibility for payment under the relevant document. This means that if a bill or check is not paid by the person responsible for making the payment, the legal holder has the right to present a claim to each of the collectors as solidary debtors.
- Indossame # 769; nt (from Latin in on and Latin back dorsum) a transfer inscription on the back of the bill in the certificate of its transfer to another person.
The endorsement must not be conditioned and signed by the person who committed it, the endorser; can not be partial, he transfers to the acquirer all the rights contained in this document. Any legal holder of a security has the right to specify in the text of the paper itself a ban on its transfer, by virtue of which the endorsement expires.
It also means: a transaction certifying the will of the holder of the bill (endorser) to transfer his ownership of the bill, as well as to transfer the bill itself and the rights resulting from it unconditionally and in full
An endorser is a person transferring his rights to a bill to another person, as the first person indicates in the transfer inscription on the back of the bill.
- transfer inscription made on bills of exchange, checks, bills of lading
- "... 11.1." The essence of the endorsement is that by putting down on the back of a bill or an additional sheet (allonge) of the transfer inscription along with the bill to another person, the right to receive payment is transferred. an endorsement bill or an endorsee.The effect of transferring a bill is called endorsement, endorsement of a bill.For a payer of an endorsed bill, anyway, to whom should the payment be made, if only until the last holder of the promissory note s reached by a series of successive successive endorsements. The ability to transfer the bill with the help of endorsement has expanded the boundaries of its application, turning the bill of weapons transfer of funds in payment tool and further to the items purchased for the purpose of making payments to them ... "