In case of an indorsement for collection,any person other than a bank who purchases the check is considered to have converted the check unless the indorser received the amount paid for it.

Question

Quizplus · Accepted Answer

In an indorsement for collection, the check is intended for deposit and collection by a bank. If a non-bank entity purchases the check, it is considered conversion unless the indorser has received the payment, as the check is not meant for transfer of ownership.

In Case of an Indorsement for Collection,any Person Other Than