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LSDefine

Simple English definitions for legal terms

restricted indorsement

Read a random definition: damages clause

A quick definition of restricted indorsement:

A restricted endorsement is when someone signs the back of a check or other important paper and puts a condition on it. For example, they might say "pay only to John Smith" or "for deposit only." This is to make sure that the paper can only be used in a certain way and can't be stolen or used by someone else. It's like putting a lock on your bike so no one can take it.

A more thorough explanation:

A restricted indorsement is a type of indorsement that limits the negotiation or payment of a negotiable instrument, such as a check or promissory note. It can include a condition or language that restricts further negotiation or payment of the instrument.

For example, a check may have a restrictive indorsement that says "for deposit only" or "pay to the order of XYZ Bank." This means that the check can only be deposited into the account of the named payee or the named bank, and cannot be further negotiated or paid to anyone else.

Another example of a restrictive indorsement is "pay to John Smith upon completion of the project." This means that the check can only be paid to John Smith once the project is completed, and cannot be negotiated or paid to anyone else until that condition is met.

Restricted indorsements are used to prevent theft or fraud, and to ensure that the instrument is used for its intended purpose. They can also limit the liability of the indorser if the instrument is dishonored.

restraint of princes | restricted interpretation

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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