Big Oil indorses a check "Pay St.Joseph Coal Co.only if it delivers 1000 tons of coal by 30^th September." Under Revised Article 3,what type of indorsement is this?

Question

Quizplus · Accepted Answer

There are two other kinds of indorsements that the original Article 3 treated as restrictive indorsements,but that the Revised Article 3 no longer considers restrictive indorsements.One such indorsement is conditional,which indicates that it is effective only if the payee satisfies a certain condition.

Big Oil Indorses a Check "Pay St