Which of the Following Statements Is True for a Restrictive

question 27

Multiple Choice

Which of the following statements is true for a restrictive indorsement?

• A)A person who purchases a check indorsed "for collection",automatically converts it even if the indorser received the amount paid for it.
• B)If an indorser merely signs his name and does not specify to whom the instrument is payable,he has indorsed the instrument in restriction.
• C)The person who takes an instrument with a restrictive indorsement need not pay for the instrument consistently with the indorsement.
• D)Indorsements for collection or deposit are restrictive indorsements.

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Definitions:

Motivated

Having the drive, enthusiasm, or desire to act towards achieving goals or fulfilling needs.

Self-Leadership

An approach to personal development that emphasizes the individual's capability to lead themselves through self-awareness, self-motivation, and self-direction.

Thinking

The process of considering or reasoning about something in order to make decisions or solve problems.

Behavior

The actions, reactions, or conduct of an individual, often in response to external or internal stimuli.