The Two Types of Indorsements Are Blanket or Partial

question 21

True/False

The two types of indorsements are blanket or partial.

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Definitions:

Bailee

A person or entity that has been given temporary possession, but not ownership, of personal property by another party known as the bailor.

Bailment

The act of temporarily placing control over or possession of personal property in the hands of another, under agreement.

Ordinary Care

The level of care that a reasonably careful person would exercise under similar circumstances to avoid harm to themselves or others.

Prudent Person

A legal standard referring to the hypothetical individual who exercises the care, diligence, and wisdom that a reasonable person would under similar circumstances.