Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

collection indorsement

Read a random definition: conversion price

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
m10
11:40
I'll work that in! Sounds like a good way to segway.
m10
11:41
@babycat: yeah, well unlike 99.99% of people who do standup I will.
BulbasaurNoLikeCardio
11:41
To do stand up comedy you have to have fat balls, that is awesome
m10
11:41
Woah, I got little balls. Like Adam Friedland. I ain't no Stavros.
what are we hoping for today?
m10
11:44
Nothing. No news is good news for me.
11:44
Crickets coming from my status update
babycat
11:45
dk are we gonna go to a homoerotic law school together?
11:45
@m10: at undergrad froshers: https://www.youtube.com/watch?v=6YEarMyIAzs
m10
11:46
@EvolBunny: God damn, classic Randy.
babycat
11:48
Going to law school with you is even more fun than going to San Sebastian, Irún, Hendaye, Biarritz, Bayonne or being sick to my stomach on the Travesera de Gracia in Barcelona partly because in your orange shirt you look like a better happier St. Sebastian partly because of my love for you, partly because of your love for yoghurt partly because of the fluorescent orange tulips around the birches partly because of the secrecy our smiles take on before people and statuary
m10
11:49
Man, there is this girl I visit every month at this one restaurant who I used to go skinny dipping with naked like @ararara always talked about in San Diego. We randomly reconnected like two months ago at this place she works at and we talk a lot about John Steinbeck books. If I don't visit her this month, she might be sad. However, this is my first day not sick and I worry about getting her sick and I am broke. What should I do LSD?
m10
11:49
Thanks @babycat that means a lot!
m10
11:50
Glad we can both be content at Scalia law. One of my favorites.
you can ask her if she wants to risk getting sick
11:50
hi lsd
m10
11:50
I dont have her number or any social media. This is one of those regular kinda things in restaurant and bar culture.
11:50
berk td is unlikely so BERK MONDAY :eyes:
hi eggan :)
babycat
11:52
@m10: I’m not going to DC this isn’t going to work out
11:55
hello all
hello info man
@m10: go see her it's worth the risk
11:55
hey wasp
babycat
11:56
hi information man
m10
11:56
Thanks wasp, I will.
11:56
hey babycat
m10
11:56
@babycat: What I am referencing earlier with the balls comment. https://youtu.be/qjRBAhWPT7g?si=MxPwIM12dco_Ad2M&t=3325
BulbasaurNoLikeCardio
11:56
Not worth the risk. Get a girl sick and she will remind you forever. Tell her whats up but do not share germs
m10
11:56
was*
LSD+ is ad-free, with DMs, discounts, case briefs & more.