An endorsement that is either the payee's or the last endorsee's signature,payable to whoever has possession of the instrument,is which type of endorsement?
A)Restrictive.
B)Blank unqualified.
C)Special unqualified.
D)Special qualified.
E)Blank qualified.

Question

Quizplus · Accepted Answer

A)There are two kinds of unqualified endorsements: blank and special.A blank
endorsement is simply the payee's or last endorsee's signature,nothing else [UCC 3-205b)].An unqualified,blank endorsement turns order paper into bearer paper that can be negotiated by delivery only.
B)There are two kinds of unqualified endorsements: blank and special.A blank endorsement is simply the payee's or last endorsee's signature,nothing else [UCC 3-205b)].An unqualified,blank endorsement turns order paper into bearer paper that can be negotiated by delivery only.
C)There are two kinds of unqualified endorsements: blank and special.A blank endorsement is simply the payee's or last endorsee's signature,nothing else [UCC 3-205b)].An unqualified,blank endorsement turns order paper into bearer paper that can be negotiated by delivery only.

An Endorsement That Is Either the Payee's or the Last