qualified indorsement

An indorsement that passes title to the instrument but limits the indorser’s liability to later holders if the instrument is later dishonored.

• Typically, a qualified indorsement is made by writing “without recourse” or “sans recourse” over the signature.

— Also termed indorsement without recourse. UCC § 3-415(b). See WITHOUT RECOURSE. [Cases: Bills and Notes 293. C.J.S. Bills and Notes; Letters of Credit § 160.]

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法律翻译Walker，在一家美国白鞋所担任专职法律翻译，专注翻译各类与特拉华州业务有关的法律文件。