For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:

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For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:

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For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:
a. “Pay to Monsein without recourse.”

For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:
b. “Pay to Allinore for collection.”

For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:
c. “I hereby assign all my rights, title, and interest in this note to Fullilove in full.”

For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:
d. “Pay to the Southern Trust Company.”

For each of the following indorsements indicate (a) the type of indorsement and whether the indorsement is (b) blank or special, (c) restrictive or nonrestrictive, and (d) qualified or unqualified:
e. “Pay to the order of the Farmers Bank of Nicholasville for deposit only.”

Explanation & AnswerSolution by a verified expert

Explanation

"Special, qualified, and nonrestrictive" is correct

"Blank, unqualified, and restrictive" is incorrect

The indorsement is as follows:

Special: This indorsement includes the name of a specific person such as Individual M.
Qualified: This reflects that there is no restriction for future negotiation due to the lack of payment-related guarantees from the indorsee's side.
Nonrestrictive: There is no restriction in the context of the indorsee's right.

Explanation

"Special, restrictive, and unqualified" is correct

"Blank, nonrestrictive, and qualified." is incorrect

The indorsement is as follows:

Special: This indorsement includes the name of a specific person such as Individual A.
Restrictive: There is restriction in the context of the indorsee, Individual A, since it is mentioned that the pay of the indorsee is for the collection.
Unqualified: This reflects that there is the existence of restriction in case of future negotiations due to the lack of payment-related guarantees from the indorsee’s, Individual A’s, side.

Explanation

"Special, nonrestrictive, and unqualified" is correct

"Blank, restrictive, and qualified" is incorrect

The indorsement is as follows:

Special: This indorsement includes the name of a specific person such as Individual F.
Nonrestrictive: There is no restriction in the context of the indorsee’s, Individual F’s, right.
Unqualified: It is unqualified since the statement clearly defines the intention of assignment and transfer.

Explanation

"Special, nonrestrictive, and unqualified" is correct

"Blank, restrictive, and qualified" is incorrect

Special: This indorsement includes the name of a specific company.
Nonrestrictive: There is no restriction in the context of the indorsee’s right.
Unqualified: This reflects that there is the existence of restriction, in case of future negotiation, due to the lack of payment-related guarantees from the indorsee’s side.

Explanation

"Special, restrictive and unqualified" is correct

"Blank, nonrestrictive and qualified" is incorrect

Special: This indorsement includes the name of a specific bank such as Bank N.
Restrictive: There is restriction in the context of the indorsee’s right since the statement says for deposits only.
Unqualified: It is unqualified since the statement clearly states the intention.

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