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Endorsement of a Bill Of Exchange

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Endorsement of a Bill Of Exchange

Post by LionsShare on Tue Jan 23, 2018 6:24 pm

Found this hope it will clear up some points readers may have:

http://www.accountingexplanation.com/endorsement_of_bills_of_exchange.htm

extract;

"The drawer or holder of the bill may endorse (transfer) the bill in favor of his creditor for the clearance of his own debts. A bill of exchange is a "negotiable instrument" i.e. a document which is transferable by delivery without notice to the party liable (drawee).

If the holder of the bill puts his signature on the back of the bill with a view to transfer the property contained in it (right to receive money from the acceptor), then he becomes endorser, and the person to whom the bill of exchange is transferred will become endorsee. This procedure by which a bill is transferred from one person to another person for the settlement of debts is called "endorsement""
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Re: Endorsement of a Bill Of Exchange

Post by LionsShare on Tue Jan 23, 2018 6:30 pm

To add:

https://www.investopedia.com/terms/e/endorsement.asp

"What is an 'Endorsement'

The term endorsement has a variety of meanings depending on the context in which it is used. An endorsement can be a legal term that refers to the signing of a document that allows for the legal transfer of a negotiable from one party to another; it can also refer to an attachment to a document that amends or adds to it. Typically, an endorsement is an added provision to an insurance policy, referred to as a rider, though it can also include additional options such as various license endorsements. "

https://legal-dictionary.thefreedictionary.com/indorsement

endorsement (indorsement)

n. 1) the act of the owner or payee signing his/her name to the back of a check, bill of exchange, or other negotiable instrument so as to make it payable to another or cashable by any person. An endorsement may be made after a specific direction ("pay to Dolly Madison" or "for deposit only"), called a qualified endorsement, or with no qualifying language, thereby making it payable to the holder, called a blank endorsement. There are also other forms of endorsement which may give credit or restrict the use of the check. 2) the act of pledging or committing support to a program, proposal, or candidate. (See: negotiable instrument)

http://www.dictionary.com/browse/endorsement

noun
1.
approval or sanction:
The program for supporting the arts won the government's endorsement.
2.
the placing of one's signature, instructions, etc., on a document.
3.
the signature, instructions, etc., placed on the reverse of a commercial document, for the purpose of assigning the interest therein to another.
4.
a clause under which the stated coverage of an insurance policy may be altered.
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