Examlex
Robert and Lynette met on a popular dating site, where she kept the fact that she was deaf from him. After four months of very intimate computer interactions, they agreed to meet in person. When they met for coffee, Lynette could tell that he was horrified, despite how emotionally close they had gotten. She never heard from him again. What did Robert exemplify by his actions?
Restricting Payment
Implies conditions or limitations placed on the distribution or release of funds.
Special Indorsement
A signature on a negotiable instrument, such as a check, that specifies the person to whom the instrument is to be payable, thereby restricting further transfer.
Pay to the Order
A phrase written on checks or drafts instructing the financial institution to pay the specified amount to the individual or entity named.
Trust
A fiduciary relationship in which one party, known as the trustee, holds property on behalf of another party, known as the beneficiary.
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