An unqualified endorsement imposes upon the endorser the obligation to pay the note in the event the maker does not.

Name: An unqualified endorsement imposes upon the endorser the obligation to pay the note in the event the maker does not.
Brand: Quizplus
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Quizplus · Accepted Answer

An unqualified endorsement is also known as a blank endorsement, and it transfers ownership of the note to the endorsee. Additionally, the endorser is fully liable for payment of the note if the maker defaults.

An Unqualified Endorsement Imposes Upon the Endorser the Obligation to Pay