Emil writes and signs a check payable to "Film Arts Cinema." George, Film Arts' manager, indorses the check "For deposit only." This is

Name: Emil writes and signs a check payable to "Film Arts Cinema." George, Film Arts' manager, indorses the check "For deposit only." This is
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A restrictive indorsement is when the indorser includes a condition that limits the use of the check, such as "For deposit only." This restricts the check to being deposited rather than cashed or further endorsed.

Emil Writes and Signs a Check Payable to "Film Arts