If There Is No Indorsee Designated on an Indorsement Bearing

question 36

Multiple Choice

If there is no indorsee designated on an indorsement bearing only the indorser's signature,it is a(n) :

• A) qualified indorsement.
• B) conditional indorsement.
• C) blank indorsement.
• D) allonge.

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Definitions:

Undisclosed Principal

A person who is represented in a transaction by an agent but whose identity is not revealed to the third party involved.

Agent's Authority

Refers to the powers granted to an agent by the principal, enabling the agent to act on behalf of the principal in legal or business matters.

Apparent Authority

A situation where a reasonable third party would understand that an agent had the authority to act, even if the agent did not have such authority.

Principal

The original sum of money borrowed in a loan, or the amount of the investment, excluding any interest or profit.