Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

collection indorsement

Read a random definition: best interests of creditors

A quick definition of collection indorsement:

Collection endorsement is when someone signs the back of a check or other negotiable document with a condition or restriction, like "for deposit only" or "pay to Josefina Cardoza only if she has worked 8 full hours on April 13." This helps prevent theft or fraud. Other types of endorsements include blank endorsement (no specific payee named), special endorsement (specifying who should receive payment), and qualified endorsement (limiting the endorser's liability if the document is dishonored).

A more thorough explanation:

A collection indorsement is a type of indorsement that includes a condition or language restricting further negotiation of a negotiable instrument. It is also known as a restrictive indorsement. The purpose of a collection indorsement is to prevent thieves and embezzlers from cashing checks.

For example, a check may have a collection indorsement that says "for deposit only." This means that the check can only be deposited into the account of the person named on the check and cannot be cashed by anyone else.

Another example of a collection indorsement is "pay to the order of XYZ Bank." This means that the check can only be deposited into the account of XYZ Bank and cannot be cashed by anyone else.

These examples illustrate how a collection indorsement restricts further negotiation of a negotiable instrument and ensures that it can only be used for its intended purpose.

collection | collection item

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
LSD+ is ad-free, with DMs, discounts, case briefs & more.