Gina writes and signs a check payable to "Happy Market." Ira,Happy's manager,indorses the check "For deposit only." This is
A)a blank indorsement.
B)a qualified indorsement.
C)a restrictive indorsement.
D)a special indorsement.

Question

Quizplus · Accepted Answer

The check has a restrictive indorsement because Ira has limited the use of the check by stating that it is for deposit only into Happy Market's account, and therefore cannot be cashed or deposited into any other account.

Gina Writes and Signs a Check Payable to "Happy Market