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Qualified Endorsement |
Also found in: Legal | 0.01 sec. |
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Qualified endorsement A signature on the back of a negotiable instrument transferring the amount to some other party but that includes wording that limits the endorser's liability. Qualified Endorsement An endorsement on a financial instrument, such as a check, that limits the endorser's liability. That is, the endorser may write "without recourse" as a qualified endorsement. It indicates that the endorser is not responsible in the event that an institution such as a bank refuses to make payment on the instrument. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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