An endorsee is an individual who obtains a negotiable instrument, such as a check or promissory note, by means of endorsement. This implies that someone has transferred the instrument to them by signing it. An indorsee in due course is a person who acquires the instrument in good faith, prior to its maturity, and without any knowledge that it will not be honoured.
An endorsee, also referred to as an indorsee, is an individual who obtains a negotiable instrument by means of endorsement. For instance, an endorsee can be a person who receives a check that has been endorsed by the original payee, allowing them to deposit or cash the check. Similarly, an endorsee can receive a promissory note that has been endorsed by the original holder, enabling them to collect the owed amount. The term “indorsee in due course” pertains to an endorsee who acquires a negotiable instrument in good faith, for value, and without any knowledge of defects or issues associated with the instrument. These examples demonstrate how an endorsee is someone who receives a negotiable instrument through endorsement and can utilise it to obtain money or other forms of value.
An endorsee is a person or entity to whom a negotiable instrument, such as a check or promissory note, is endorsed.
An endorser is the person who signs the back of a negotiable instrument to transfer it to another party, while the endorsee is the party to whom the instrument is transferred.
Yes, an endorsee has the right to further endorse and transfer a negotiable instrument to another party.
An endorsee has the right to enforce the instrument against the parties liable on it and is responsible for presenting the instrument for payment and taking any necessary legal action to enforce it.
Yes, an endorsee can be held liable for the payment of a negotiable instrument if they have endorsed it as a guarantor or if they have accepted the instrument.
If an endorsee fails to present a negotiable instrument for payment within a reasonable time, they may lose their right to enforce the instrument against the parties liable on it.
Yes, an endorsee can be a minor or a legally incapacitated person, but their ability to enforce the instrument may be limited by their legal status.
Yes, a corporation or other legal entity can be an endorsee and can enforce a negotiable instrument in the same way as an individual.
A negotiable instrument can be transferred to an endorsee by the endorser signing the back of the instrument and delivering it to the endorsee.
Yes, an endorsee has the right to refuse to accept a negotiable instrument, but once accepted, they are bound by the terms of the instrument.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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