Laura Is in Possession of a Check Which Contains the Following

question 46

Multiple Choice

Laura is in possession of a check which contains the following indorsement, "Sam Smith, without recourse, for collection only." The indorsement would be classified as:

• A)blank, qualified, and restrictive.
• B)blank, unqualified, and unrestrictive.
• C)special, unqualified, and restrictive.
• D)special, qualified, and unrestrictive.