An Endorsement That Is Followed by a Statement That Restricts

question 15

Multiple Choice

An endorsement that is followed by a statement that restricts payment, and can be used as a defense for the endorser against the endorsee, is which of the following?

• A) Endorsement that prohibits further endorsement.
• B) Trust endorsement.
• C) Special qualified endorsement.
• D) Conditional endorsement.
• E) Special unqualified endorsement.

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Definitions:

Prohibited

Forbidden by law or policy.

Sherman Act

A foundational antitrust law in the United States enacted in 1890 that prohibits monopolistic practices and promotes competition.

Enacted

Refers to the action of making a bill or proposal into law following its approval by legislative authorities.

Eliminated

Removed or gotten rid of completely.