Laurel Speckle received a check from State University.She indorsed the check as follows: "For Deposit only,/s/ Laurel Speckle." Laurel's indorsement is a(n)
A)blank indorsement.
B)special indorsement.
C)restrictive indorsement.
D)improper indorsement.

Question

Quizplus · Accepted Answer

Laurel's indorsement "For Deposit only" is a restrictive indorsement. It restricts the use of the check to only be deposited into Laurel's account and not to be cashed or transferred to any other account.

Laurel Speckle Received a Check from State University