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    SW

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    IntifadaJjangNatangcop
    A restrictive endorsement limits an indorsee's rights to receiving payment on the instrument, bringing actions the indorser could bring, and transferring their rights if the endorsement authorizes it. Any subsequent indorsees only acquire the rights of the original indorsee under the restrictive endorsement and not any additional rights.

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    © All Rights Reserved
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    SW

    Uploaded by

    IntifadaJjangNatangcop
    30 views1 page
    A restrictive endorsement limits an indorsee's rights to receiving payment on the instrument, bringing actions the indorser could bring, and transferring their rights if the endorsement authorizes it. Any subsequent indorsees only acquire the rights of the original indorsee under the restrictive endorsement and not any additional rights.

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    A restrictive endorsement limits an indorsee's rights to receiving payment on the instrument, bringing actions the indorser could bring, and transferring their rights if the endorsement authorizes it. Any subsequent indorsees only acquire the rights of the original indorsee under the restrictive endorsement and not any additional rights.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views1 page

    SW

    Uploaded by

    IntifadaJjangNatangcop
    A restrictive endorsement limits an indorsee's rights to receiving payment on the instrument, bringing actions the indorser could bring, and transferring their rights if the endorsement authorizes it. Any subsequent indorsees only acquire the rights of the original indorsee under the restrictive endorsement and not any additional rights.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Sec. 37. Effect of restrictive indorsement; rights of indorsee.

    - A
    restrictive indorsement confers upon the indorsee the right:
    (a)
    to
    receive
    payment
    of
    the
    instrument;
    chanroblesvirtuallawlibrary

    (b) to bring any action thereon that the indorser could bring;
    (c) to transfer his rights as such indorsee, where the form of the
    indorsement authorizes him to do so.
    But all subsequent indorsees acquire only the title of the first
    indorsee under the restrictive indorsement.

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