Which of the following is a restrictive indorsement?
A) "(Signed) Michael R. Harmon"
B) "Pay to John Smith (signed) Michael R. Harmon"
C) "(Signed) Michael R. Harmon, Without Recourse"
D) "For Deposit Only, (signed) Michael R. Harmon"
E) "Payable in cash, (signed) Michael R. Harmon"

Question

Quizplus · Accepted Answer

A restrictive indorsement limits what can be done with the instrument, such as "For Deposit Only," which restricts the instrument to being deposited into a bank account.

Which of the Following Is a Restrictive Indorsement