Which of the Following Indorsements Is a Restrictive Indorsement

question 90

Multiple Choice

Which of the following indorsements is a restrictive indorsement?

• A)"Pay to Jack Black,Mel Gibbs"
• B)"Mel Gibbs"
• C)"Pay to Jack Black in Trust for Mel Gibbs"
• D)"Pay to the Order of Jack Black,Mel Gibbs"

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Definitions:

Legal Title

Legal ownership of property or assets, which includes the right to use, sell or transfer them.

FOB Shipping Point

A shipping term indicating that the buyer assumes transportation costs and risk of loss once the goods leave the seller's premises.

Consignee

The individual or entity designated to receive goods being shipped or transported, who may not be the actual owner of the goods until certain conditions are met.

Consignment

A business arrangement in which goods are left in the possession of another party to sell, but ownership remains with the supplier until the goods are sold.