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Figure 37-3 Which of the following is false concerning the structures labeled as 4 in the accompanying figure?
Real Defenses
Legal defenses that can be used to invalidate a negotiable instrument, such as forgery, fraud, duress, or incapacity.
Specified
Clearly stated or identified in a particular context or document.
Restrictive Indorsements
Endorsements placed on a negotiable instrument, like a check, that limit how the instrument can be used or further transferred.
Indorsements for Deposit
Signatures or statements on the back of a negotiable instrument, such as a check, indicating that it can be deposited into a specific account.
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